Sumitomo Mitsui Trust Group Inc. Has $15.35 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486,355 shares of the company’s stock after selling 17,906 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.09% of Corebridge Financial worth $15,354,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in Corebridge Financial in the 1st quarter valued at $832,000. Raymond James Financial Inc. bought a new stake in Corebridge Financial in the 4th quarter valued at $31,844,000. US Bancorp DE increased its holdings in Corebridge Financial by 7,525.1% in the 4th quarter. US Bancorp DE now owns 21,579 shares of the company’s stock valued at $646,000 after buying an additional 21,296 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corebridge Financial by 88.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company’s stock valued at $2,899,000 after buying an additional 45,363 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Corebridge Financial by 328.9% in the 4th quarter. Wells Fargo & Company MN now owns 386,423 shares of the company’s stock valued at $11,566,000 after buying an additional 296,337 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

NYSE:CRBG opened at $35.78 on Friday. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.08. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $32.48 and a 200 day simple moving average of $31.57. The stock has a market capitalization of $19.67 billion, a PE ratio of 30.32, a P/E/G ratio of 0.58 and a beta of 1.06.

Corebridge Financial (NYSE:CRBGGet Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the business earned $1.10 earnings per share. On average, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.24 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. Corebridge Financial’s dividend payout ratio is presently 81.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CRBG shares. BMO Capital Markets upped their target price on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Keefe, Bruyette & Woods upped their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Barclays upped their target price on shares of Corebridge Financial from $38.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Wall Street Zen raised shares of Corebridge Financial from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, Piper Sandler upped their target price on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.64.

Check Out Our Latest Research Report on CRBG

Corebridge Financial Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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