Mirae Asset Global Investments Co. Ltd. Has $958,000 Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 196.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,207 shares of the company’s stock after purchasing an additional 29,315 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corebridge Financial were worth $958,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in Corebridge Financial during the 3rd quarter valued at $28,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Corebridge Financial during the third quarter worth $55,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of Corebridge Financial during the third quarter worth $104,000. Loomis Sayles & Co. L P lifted its holdings in shares of Corebridge Financial by 1,450.9% during the third quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company’s stock worth $130,000 after buying an additional 6,152 shares in the last quarter. Finally, CI Investments Inc. lifted its holdings in shares of Corebridge Financial by 7,879.8% during the third quarter. CI Investments Inc. now owns 9,097 shares of the company’s stock worth $180,000 after buying an additional 8,983 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CRBG shares. Wells Fargo & Company raised their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler raised their price target on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Evercore ISI raised their price target on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley raised their price target on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Corebridge Financial Stock Performance

Corebridge Financial stock opened at $27.33 on Wednesday. The stock has a market cap of $17.01 billion, a PE ratio of 16.17, a P/E/G ratio of 0.31 and a beta of 0.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The business’s 50-day moving average price is $26.28 and its two-hundred day moving average price is $23.36. Corebridge Financial, Inc. has a 12-month low of $14.91 and a 12-month high of $29.40.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The company had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. As a group, analysts expect that Corebridge Financial, Inc. will post 4.82 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s dividend payout ratio (DPR) is currently 54.44%.

Corebridge Financial Company 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.