Corebridge Financial, Inc. $CRBG Holdings Boosted by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 6.9% in the third quarter, HoldingsChannel.com reports. The fund owned 6,686,747 shares of the company’s stock after buying an additional 430,308 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Corebridge Financial were worth $214,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Corebridge Financial during the 2nd quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the last quarter. Root Financial Partners LLC acquired a new position in Corebridge Financial during the 3rd quarter valued at approximately $32,000. Assetmark Inc. boosted its position in Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock valued at $33,000 after purchasing an additional 356 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Corebridge Financial by 41.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,679 shares of the company’s stock worth $54,000 after buying an additional 495 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRBG. Weiss Ratings lowered Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Zacks Research lowered shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Morgan Stanley dropped their price objective on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. UBS Group cut their price objective on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, Barclays reduced their target price on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.40.

Corebridge Financial Trading Down 3.1%

Shares of CRBG stock opened at $25.37 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $36.57. The stock has a fifty day moving average of $29.75 and a two-hundred day moving average of $30.99. The firm has a market capitalization of $12.22 billion, a PE ratio of -47.87, a price-to-earnings-growth ratio of 0.36 and a beta of 1.11.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Monday, February 9th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the company earned $1.06 earnings per share. As a group, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s payout ratio is currently -181.13%.

Corebridge Financial Company 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.