Corebridge Financial, Inc. $CRBG Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 52.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,481 shares of the company’s stock after selling 137,166 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corebridge Financial were worth $3,756,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CRBG. Pzena Investment Management LLC increased its position in Corebridge Financial by 19.3% in the 3rd quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock valued at $715,651,000 after acquiring an additional 3,605,498 shares during the period. Alyeska Investment Group L.P. acquired a new position in Corebridge Financial during the 3rd quarter worth approximately $69,738,000. Vanguard Group Inc. increased its position in Corebridge Financial by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after purchasing an additional 1,805,819 shares during the period. Marshall Wace LLP increased its position in Corebridge Financial by 16,388.6% during the 3rd quarter. Marshall Wace LLP now owns 1,525,031 shares of the company’s stock worth $48,877,000 after purchasing an additional 1,515,782 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Corebridge Financial by 229.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after purchasing an additional 905,918 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Price Performance

CRBG stock opened at $27.53 on Monday. Corebridge Financial, Inc. has a 1 year low of $22.19 and a 1 year high of $36.57. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s 50 day moving average price is $25.28 and its 200 day moving average price is $28.68. The firm has a market cap of $13.26 billion, a P/E ratio of -51.95, a PEG ratio of 0.39 and a beta of 1.18.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the company earned $1.06 EPS. On average, sell-side analysts expect that Corebridge Financial, Inc. will post 4.91 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s dividend payout ratio is currently -188.68%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CRBG shares. Piper Sandler upgraded Corebridge Financial to a “strong-buy” rating in a research report on Thursday, April 2nd. UBS Group dropped their target price on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Mizuho dropped their target price on Corebridge Financial from $39.00 to $31.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Bank of America dropped their target price on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Corebridge Financial has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.