Corebridge Financial, Inc. $CRBG Stock Holdings Lifted by LSV Asset Management

LSV Asset Management raised its position in Corebridge Financial, Inc. (NYSE:CRBG) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,723,828 shares of the company’s stock after buying an additional 38,293 shares during the quarter. LSV Asset Management’s holdings in Corebridge Financial were worth $142,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRBG. Community Bank N.A. acquired a new stake in shares of Corebridge Financial in the third quarter worth about $26,000. Salomon & Ludwin LLC lifted its position in shares of Corebridge Financial by 179.7% in the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Corebridge Financial by 83.6% in the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Corebridge Financial in the third quarter worth about $32,000. Finally, True Wealth Design LLC lifted its position in shares of Corebridge Financial by 50.2% in the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

NYSE CRBG opened at $27.71 on Friday. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $12.66 billion, a PE ratio of 50.38, a P/E/G ratio of 0.30 and a beta of 1.18. The stock has a 50-day simple moving average of $25.56 and a 200 day simple moving average of $28.26.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $1.16 EPS. Research analysts anticipate that Corebridge Financial, Inc. will post 4.88 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 16th. Corebridge Financial’s payout ratio is currently 181.82%.

Analyst Ratings Changes

A number of analysts have weighed in on CRBG shares. UBS Group reduced their price target on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Piper Sandler raised Corebridge Financial to a “strong-buy” rating in a research report on Thursday, April 2nd. Wells Fargo & Company boosted their price target on Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley reduced their price target on Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.92.

About Corebridge Financial

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.