B. Metzler seel. Sohn & Co. AG Boosts Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

B. Metzler seel. Sohn & Co. AG increased its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,741 shares of the company’s stock after buying an additional 53,741 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Corebridge Financial were worth $6,487,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Corebridge Financial by 104.4% in the third quarter. Cerity Partners LLC now owns 21,595 shares of the company’s stock valued at $630,000 after buying an additional 11,029 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Corebridge Financial by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company’s stock valued at $648,000 after acquiring an additional 732 shares during the last quarter. FMR LLC raised its position in shares of Corebridge Financial by 13.5% during the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after acquiring an additional 598,373 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Corebridge Financial during the third quarter worth approximately $359,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Corebridge Financial by 79.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,836 shares of the company’s stock valued at $1,628,000 after purchasing an additional 24,724 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Trading Up 0.7 %

Shares of CRBG stock opened at $31.57 on Tuesday. The company has a market capitalization of $17.55 billion, a P/E ratio of 8.35, 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. The business’s 50 day moving average is $32.73 and its two-hundred day moving average is $31.29. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data 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 net margin of 11.39% and a return on equity of 22.69%. Equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.24 dividend. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is currently 25.40%.

Analyst Upgrades and Downgrades

CRBG has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. 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 research report on Friday, January 10th. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research report on Monday, January 6th. BMO Capital Markets initiated coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Finally, Piper Sandler raised their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus 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.