Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 166.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,825 shares of the company’s stock after purchasing an additional 20,525 shares during the quarter. D.A. Davidson & CO.’s holdings in Corebridge Financial were worth $982,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Truist Financial Corp raised its holdings in Corebridge Financial by 656.7% during the fourth quarter. Truist Financial Corp now owns 55,831 shares of the company’s stock worth $1,671,000 after purchasing an additional 48,453 shares in the last quarter. CIBC Asset Management Inc grew its stake in Corebridge Financial by 9.3% in the 4th quarter. CIBC Asset Management Inc now owns 21,394 shares of the company’s stock valued at $640,000 after acquiring an additional 1,815 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Corebridge Financial by 3.1% during the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock worth $664,000 after purchasing an additional 660 shares in the last quarter. Principal Securities Inc. increased its position in Corebridge Financial by 557.3% during the fourth quarter. Principal Securities Inc. now owns 10,044 shares of the company’s stock worth $301,000 after buying an additional 8,516 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Corebridge Financial by 12.3% during the 4th quarter. Rhumbline Advisers now owns 306,137 shares of the company’s stock worth $9,163,000 after purchasing an additional 33,613 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analysts Set New Price Targets

CRBG has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. 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 report on Wednesday, November 27th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.64.

Corebridge Financial Stock Down 2.3 %

Shares of NYSE:CRBG opened at $32.72 on Monday. Corebridge Financial, Inc. has a 12-month low of $23.77 and a 12-month high of $34.66. 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 firm has a market cap of $18.19 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. The company has a fifty day simple moving average of $31.70 and a 200 day simple moving average of $30.46.

Corebridge Financial (NYSE:CRBG) last issued its 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 research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.24 dividend. This is an increase 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 dividend yield of 2.93%. Corebridge Financial’s dividend payout ratio (DPR) is 24.34%.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the transaction, the insider now owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by company insiders.

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.