Whittier Trust Co. of Nevada Inc. Raises Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Whittier Trust Co. of Nevada Inc. increased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 58.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,147 shares of the company’s stock after acquiring an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Corebridge Financial were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Nippon Life Insurance Co. acquired a new position in shares of Corebridge Financial in the fourth quarter worth about $3,650,151,000. Pzena Investment Management LLC raised its holdings in Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after purchasing an additional 3,202,145 shares during the period. Raymond James Financial Inc. purchased a new position in Corebridge Financial during the fourth quarter worth approximately $31,844,000. Jacobs Levy Equity Management Inc. boosted its position in Corebridge Financial by 34.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,567,637 shares of the company’s stock worth $104,032,000 after purchasing an additional 915,848 shares in the last quarter. Finally, State Street Corp grew its holdings in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after purchasing an additional 843,559 shares during the period. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $43.00 in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. TD Cowen raised their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets began coverage on Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Stock Up 1.9 %

NYSE CRBG opened at $33.00 on Tuesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 52 week low of $23.97 and a 52 week high of $35.36. The business’s fifty day simple moving average is $32.63 and its 200-day simple moving average is $31.10. The firm has a market cap of $18.35 billion, a PE ratio of 8.73, a P/E/G ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, equities analysts anticipate 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. Shareholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. This is a boost 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 2.91%. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

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.