Corebridge Financial, Inc. (NYSE:CRBG) Stock Holdings Trimmed by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,956 shares of the company’s stock after selling 724 shares during the period. Corient Private Wealth LLC’s holdings in Corebridge Financial were worth $2,453,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in Corebridge Financial by 11.3% during the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock worth $4,871,000 after acquiring an additional 16,970 shares during the period. Virtu Financial LLC acquired a new position in Corebridge Financial during the 3rd quarter valued at approximately $581,000. New York Life Investment Management LLC bought a new position in Corebridge Financial during the 4th quarter worth $781,000. State Street Corp increased its position in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after buying an additional 843,559 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in Corebridge Financial in the third quarter valued at $2,370,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $32.36 on Monday. The company has a 50-day moving average of $32.56 and a 200-day moving average of $31.06. The firm has a market cap of $17.99 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. Corebridge Financial’s payout ratio is 25.40%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. TD Cowen boosted their price objective on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and an average price target of $37.29.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.