19,607 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,607 shares of the company’s stock, valued at approximately $588,000.

Several other institutional investors also recently bought and sold shares of CRBG. Nippon Life Insurance Co. acquired a new position in shares of Corebridge Financial during the 4th quarter worth approximately $3,650,151,000. Norges Bank acquired a new position in Corebridge Financial during the fourth quarter worth $283,212,000. Price T Rowe Associates Inc. MD lifted its holdings in Corebridge Financial by 31.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company’s stock valued at $986,539,000 after purchasing an additional 7,828,929 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Corebridge Financial by 4,624.2% during the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock valued at $110,979,000 after purchasing an additional 3,629,472 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Corebridge Financial by 222.9% in the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock valued at $138,829,000 after purchasing an additional 3,202,145 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of research reports. Barclays raised their price target on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. UBS Group cut Corebridge Financial from a “buy” rating to a “sell” rating and dropped their price target for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Piper Sandler lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.62.

Corebridge Financial Trading Up 1.5%

Shares of CRBG opened at $32.79 on Friday. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36. The firm has a market capitalization of $18.04 billion, a P/E ratio of 8.67, a P/E/G ratio of 0.43 and a beta of 1.01. The firm has a 50-day moving average price of $30.11 and a 200 day moving average price of $31.16. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. During the same quarter in the prior year, the company posted $1.10 EPS. Sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 2.93%. Corebridge Financial’s dividend payout ratio (DPR) is 81.36%.

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.