Barclays PLC Has $25.22 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Barclays PLC raised its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 135.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 842,550 shares of the company’s stock after acquiring an additional 484,515 shares during the quarter. Barclays PLC’s holdings in Corebridge Financial were worth $25,217,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nippon Life Insurance Co. bought a new stake in Corebridge Financial during the fourth quarter worth about $3,650,151,000. Norges Bank acquired a new position in shares of Corebridge Financial in the 4th quarter worth approximately $283,212,000. Wellington Management Group LLP grew its position in Corebridge Financial by 4,624.2% during the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock worth $110,979,000 after acquiring an additional 3,629,472 shares during the last quarter. Pzena Investment Management LLC increased its holdings 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 valued at $138,829,000 after purchasing an additional 3,202,145 shares in the last quarter. Finally, LSV Asset Management bought a new position in Corebridge Financial in the 4th quarter valued at $85,786,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Up 1.5 %

Shares of NYSE:CRBG opened at $27.71 on Friday. The company has a 50 day moving average price of $31.00 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. The company has a market capitalization of $15.40 billion, a PE ratio of 7.33, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. Analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, March 17th. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s payout ratio is 25.40%.

Analyst Ratings Changes

Several brokerages have recently commented on CRBG. Wells Fargo & Company decreased their target price on Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Corebridge Financial from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Barclays reduced their target price on shares of Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Piper Sandler boosted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.15.

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.