Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Algebris UK Ltd

Algebris UK Ltd lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 21.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 849,352 shares of the company’s stock after buying an additional 148,971 shares during the period. Corebridge Financial makes up 6.2% of Algebris UK Ltd’s investment portfolio, making the stock its 5th biggest position. Algebris UK Ltd’s holdings in Corebridge Financial were worth $24,552,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth approximately $423,000. CIBC Asset Management Inc lifted its stake in Corebridge Financial by 4.2% during the third quarter. CIBC Asset Management Inc now owns 19,579 shares of the company’s stock worth $571,000 after purchasing an additional 793 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Corebridge Financial by 10.3% in the 3rd quarter. Swiss National Bank now owns 812,665 shares of the company’s stock valued at $23,697,000 after purchasing an additional 75,600 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corebridge Financial in the 3rd quarter valued at $4,753,000. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of Corebridge Financial by 28.5% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 21,739 shares of the company’s stock valued at $634,000 after purchasing an additional 4,822 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRBG. Piper Sandler upped their price objective on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen raised their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Trading Down 1.3 %

CRBG opened at $32.17 on Wednesday. The stock has a market cap of $17.89 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36. The company has a fifty day moving average of $32.47 and a 200-day moving average of $30.99.

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

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.98%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial’s dividend payout ratio is presently 25.40%.

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.