B. Metzler seel. Sohn & Co. AG Buys 53,741 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

B. Metzler seel. Sohn & Co. AG grew its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 33.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,741 shares of the company’s stock after acquiring 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 reporting period.

A number of other institutional investors have also modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Corebridge Financial in the third quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial during the 4th quarter worth $27,000. FNY Investment Advisers LLC purchased a new position in shares of Corebridge Financial during the fourth quarter valued at $27,000. Smartleaf Asset Management LLC raised its holdings in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target 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. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a report on Monday, January 6th. Morgan Stanley upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $43.00 in a report on Friday, February 28th. Piper Sandler upped their price objective on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $37.29.

Corebridge Financial Stock Performance

CRBG opened at $31.57 on Tuesday. The firm’s fifty day simple moving average is $32.73 and its two-hundred day simple moving average is $31.29. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36. The company has a market cap of $17.55 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG) last issued its quarterly 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%. Equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

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

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.