Corebridge Financial, Inc. (NYSE:CRBG) Stock Position Raised by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 78.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,477 shares of the company’s stock after purchasing an additional 45,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Corebridge Financial were worth $3,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Corebridge Financial during the 3rd quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Corebridge Financial during the 4th quarter worth about $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial during the 4th quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after purchasing an additional 480 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after purchasing an additional 729 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRBG. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Wells Fargo & Company raised their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets began coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Stock Performance

CRBG opened at $31.78 on Monday. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-month high of $35.36. The firm has a market capitalization of $17.67 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The stock’s 50 day moving average price is $32.42 and its two-hundred day moving average price is $30.94. 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 announced its quarterly earnings data 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%. On average, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio (DPR) is presently 25.40%.

About Corebridge Financial

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.