Corebridge Financial, Inc. (NYSE:CRBG) Holdings Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,578 shares of the company’s stock after selling 12,145 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Corebridge Financial worth $11,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CRBG. Vanguard Group Inc. grew its holdings in shares of Corebridge Financial by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock valued at $337,022,000 after acquiring an additional 1,566,275 shares in the last quarter. TD Asset Management Inc grew its stake in Corebridge Financial by 15.0% in the third quarter. TD Asset Management Inc now owns 5,252,950 shares of the company’s stock valued at $103,746,000 after purchasing an additional 686,727 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Corebridge Financial by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,676,716 shares of the company’s stock worth $92,365,000 after purchasing an additional 19,746 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Corebridge Financial by 960.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,417,518 shares of the company’s stock worth $27,996,000 after purchasing an additional 1,283,901 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Corebridge Financial by 90.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock valued at $27,306,000 after buying an additional 656,440 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CRBG shares. Keefe, Bruyette & Woods raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley upped their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI increased their target price on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Piper Sandler upped their price target on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target on shares of Corebridge Financial in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Corebridge Financial Price Performance

Shares of CRBG stock opened at $28.68 on Monday. Corebridge Financial, Inc. has a 52 week low of $14.91 and a 52 week high of $29.53. The stock has a market capitalization of $17.85 billion, a PE ratio of 7.55, a PEG ratio of 0.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The stock’s fifty day moving average is $26.61 and its 200-day moving average is $23.71.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. Equities research analysts expect that Corebridge Financial, Inc. will post 4.82 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.21%. The ex-dividend date was Thursday, March 14th. Corebridge Financial’s dividend payout ratio (DPR) is presently 24.21%.

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.