Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Xponance Inc.

Xponance Inc. boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 47.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,999 shares of the company’s stock after buying an additional 10,663 shares during the quarter. Xponance Inc.’s holdings in Corebridge Financial were worth $988,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CRBG. Charles Schwab Investment Management Inc. boosted its stake in shares of Corebridge Financial by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,738,163 shares of the company’s stock valued at $50,685,000 after acquiring an additional 148,834 shares during the last quarter. Cerity Partners LLC lifted its holdings in Corebridge Financial by 104.4% in the 3rd quarter. Cerity Partners LLC now owns 21,595 shares of the company’s stock valued at $630,000 after purchasing an additional 11,029 shares in the last quarter. Swedbank AB boosted its stake in shares of Corebridge Financial by 3.2% during the 3rd quarter. Swedbank AB now owns 199,807 shares of the company’s stock worth $5,826,000 after purchasing an additional 6,143 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Corebridge Financial by 3.6% during the third quarter. Daiwa Securities Group Inc. now owns 54,500 shares of the company’s stock worth $1,589,000 after buying an additional 1,900 shares in the last quarter. Finally, Hancock Whitney Corp raised its position in shares of Corebridge Financial by 1.1% in the third quarter. Hancock Whitney Corp now owns 83,182 shares of the company’s stock valued at $2,426,000 after buying an additional 922 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Down 0.4 %

Shares of Corebridge Financial stock opened at $32.36 on Monday. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 8.56, 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 company has a fifty day moving average price of $32.56 and a 200 day moving average price of $31.06.

Corebridge Financial (NYSE:CRBG) last issued 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 return on equity of 22.69% and a net margin of 11.39%. Equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given 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 yield of 2.97%. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRBG shares. Barclays upgraded shares of 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. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler increased their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen upped their price objective 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, Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.29.

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.