Corebridge Financial, Inc. $CRBG Shares Acquired by LSV Asset Management

LSV Asset Management increased its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 0.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,723,828 shares of the company’s stock after acquiring an additional 38,293 shares during the quarter. LSV Asset Management owned approximately 0.91% of Corebridge Financial worth $142,518,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Corebridge Financial by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after acquiring an additional 311,133 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Corebridge Financial by 5.8% in the 4th quarter. Pzena Investment Management LLC now owns 23,632,410 shares of the company’s stock worth $712,990,000 after acquiring an additional 1,303,211 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corebridge Financial by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock valued at $214,372,000 after buying an additional 430,308 shares in the last quarter. Bank of America Corp DE raised its position in Corebridge Financial by 42.8% during the second quarter. Bank of America Corp DE now owns 2,884,599 shares of the company’s stock valued at $102,403,000 after buying an additional 864,946 shares during the period. Finally, Wellington Management Group LLP raised its position in Corebridge Financial by 24.2% during the third quarter. Wellington Management Group LLP now owns 2,549,249 shares of the company’s stock valued at $81,703,000 after buying an additional 496,033 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $27.71 on Friday. The business’s 50-day moving average price is $25.56 and its two-hundred day moving average price is $28.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57. The company has a market capitalization of $12.66 billion, a P/E ratio of 50.38, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the firm earned $1.16 EPS. Analysts anticipate that Corebridge Financial, Inc. will post 4.88 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Corebridge Financial’s payout ratio is 181.82%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRBG shares. Bank of America dropped their price target 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. Piper Sandler raised Corebridge Financial to a “strong-buy” rating in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods upped their price target on Corebridge Financial from $31.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on Corebridge Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, TD Cowen dropped their price target on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.92.

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.