Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC decreased its position in Corebridge Financial, Inc. (NYSE:CRBG) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,611 shares of the company’s stock after selling 2,238 shares during the quarter. Natixis Advisors LLC’s holdings in Corebridge Financial were worth $1,455,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after buying an additional 480 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Corebridge Financial in the 3rd quarter valued at $27,000. Finally, Blue Trust Inc. raised its stake in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of CRBG opened at $33.31 on Wednesday. The stock has a market capitalization of $18.52 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The company’s fifty day moving average is $32.70 and its two-hundred day moving average is $31.15.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial’s dividend payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRBG shares. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $35.00 to $43.00 in a research note on Friday, February 28th. Piper Sandler upped their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. BMO Capital Markets initiated coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.