J. Safra Sarasin Holding AG Purchases Shares of 28,469 Corebridge Financial, Inc. $CRBG

J. Safra Sarasin Holding AG purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 28,469 shares of the company’s stock, valued at approximately $859,000.

Several other large investors also recently made changes to their positions in CRBG. Community Bank N.A. acquired a new stake in shares of Corebridge Financial during the third quarter worth $26,000. Smartleaf Asset Management LLC boosted its stake in 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 period. Root Financial Partners LLC acquired a new position in Corebridge Financial in the 3rd quarter worth $32,000. True Wealth Design LLC increased its holdings in Corebridge Financial by 50.2% during the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 412 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Corebridge Financial by 47.7% in the 3rd quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock valued at $45,000 after purchasing an additional 449 shares during the period. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CRBG shares. Wells Fargo & Company cut their price target on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Morgan Stanley decreased their price objective on Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Keefe, Bruyette & Woods reissued a “moderate buy” rating and issued a $32.00 target price on shares of Corebridge Financial in a research report on Thursday, March 26th. TD Cowen cut their target price on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Finally, Zacks Research raised Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corebridge Financial has an average rating of “Moderate Buy” and an average target price of $36.27.

Corebridge Financial Trading Up 1.2%

Shares of NYSE:CRBG opened at $24.15 on Thursday. The company’s 50-day moving average price is $27.33 and its two-hundred day moving average price is $29.67. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $11.63 billion, a PE ratio of -45.56, a price-to-earnings-growth ratio of 0.38 and a beta of 1.12.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.During the same quarter last year, the company earned $1.06 EPS. On average, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.25 dividend. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, March 17th. Corebridge Financial’s dividend payout ratio is -188.68%.

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.