Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Xponance Inc.

Xponance Inc. raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 47.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,999 shares of the company’s stock after purchasing an additional 10,663 shares during the period. Xponance Inc.’s holdings in Corebridge Financial were worth $988,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CRBG. Envestnet Portfolio Solutions Inc. raised its position in shares of Corebridge Financial by 288.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 32,855 shares of the company’s stock valued at $983,000 after acquiring an additional 24,396 shares in the last quarter. Buckley Wealth Management LLC bought a new position in shares of Corebridge Financial in the 4th quarter worth about $507,000. Wellington Shields & Co. LLC boosted its holdings in shares of Corebridge Financial by 100.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 20,000 shares of the company’s stock valued at $599,000 after buying an additional 10,000 shares during the period. Wellington Shields Capital Management LLC boosted its stake in Corebridge Financial by 10.2% in the fourth quarter. Wellington Shields Capital Management LLC now owns 21,700 shares of the company’s stock valued at $649,000 after acquiring an additional 2,000 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Corebridge Financial by 78.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 102,477 shares of the company’s stock valued at $3,072,000 after purchasing an additional 45,100 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Stock Down 0.4 %

CRBG opened at $32.36 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $17.99 billion, a PE ratio of 8.56, a P/E/G ratio of 0.43 and a beta of 0.92. The stock’s fifty day moving average is $32.56 and its 200-day moving average is $31.06. Corebridge Financial, Inc. has a one year low of $23.97 and a one year high of $35.36.

Corebridge Financial (NYSE:CRBG) last issued its quarterly 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%. On average, equities analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal 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. 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 annualized dividend and a yield of 2.97%. Corebridge Financial’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRBG. Wells Fargo & Company raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Two investment analysts have rated the stock with a hold rating and thirteen have given 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 $37.29.

About Corebridge Financial

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.