Corebridge Financial, Inc. (NYSE:CRBG) Holdings Boosted by D.A. Davidson & CO.

D.A. Davidson & CO. grew its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 166.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,825 shares of the company’s stock after purchasing an additional 20,525 shares during the period. D.A. Davidson & CO.’s holdings in Corebridge Financial were worth $982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fortitude Family Office LLC acquired a new position in Corebridge Financial during the fourth quarter valued at $27,000. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Corebridge Financial in the third quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Corebridge Financial during the third quarter worth approximately $28,000. Finally, HM Payson & Co. purchased a new position in Corebridge Financial during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. DOWLING & PARTN cut Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets initiated coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target for the company. Finally, Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.64.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, the insider now directly owns 127,282,642 shares in the company, valued at $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Corebridge Financial Trading Down 2.3 %

NYSE:CRBG opened at $32.72 on Monday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $31.70 and its 200-day moving average is $30.46. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 12 month low of $23.77 and a 12 month high of $34.66.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 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%. Equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.24 per share. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 2.93%. Corebridge Financial’s dividend payout ratio is presently 24.34%.

Corebridge Financial 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.