18,952 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,952 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nippon Life Insurance Co. acquired a new stake in Corebridge Financial during the 4th quarter worth $3,650,151,000. Vanguard Group Inc. increased its position in shares of Corebridge Financial by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company’s stock worth $716,083,000 after purchasing an additional 711,857 shares in the last quarter. State Street Corp lifted its holdings in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after purchasing an additional 843,559 shares during the last quarter. FMR LLC grew its stake in Corebridge Financial by 13.5% during the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after buying an additional 598,373 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in Corebridge Financial by 222.9% during the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after buying an additional 3,202,145 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. BMO Capital Markets started coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Piper Sandler upped their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Finally, Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.29.

Corebridge Financial Trading Down 1.8 %

NYSE:CRBG opened at $32.21 on Friday. The stock has a market capitalization of $17.91 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The stock has a fifty day moving average price of $32.75 and a two-hundred day moving average price of $31.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data 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 net margin of 11.39% and a return on equity of 22.69%. As a group, sell-side 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 will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.24 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.98%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio is currently 25.40%.

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.