Janney Montgomery Scott LLC Takes Position in Corebridge Financial, Inc. (NYSE:CRBG)

Janney Montgomery Scott LLC acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBGFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,724 shares of the company’s stock, valued at approximately $514,000.

Other institutional investors have also modified their holdings of the company. Mariner LLC increased its position in Corebridge Financial by 4.3% during the third quarter. Mariner LLC now owns 33,647 shares of the company’s stock worth $665,000 after purchasing an additional 1,388 shares during the last quarter. Vestor Capital LLC acquired a new position in Corebridge Financial during the fourth quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC increased its position in Corebridge Financial by 12.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,819 shares of the company’s stock worth $538,000 after purchasing an additional 2,817 shares during the last quarter. Principal Financial Group Inc. increased its position in Corebridge Financial by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 92,524 shares of the company’s stock worth $2,004,000 after purchasing an additional 2,828 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Corebridge Financial during the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRBG shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Corebridge Financial in a research report on Friday, April 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Evercore ISI boosted their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Get Our Latest Report on CRBG

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Corebridge Financial Price Performance

Shares of CRBG stock opened at $28.86 on Wednesday. The company has a market capitalization of $17.65 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.32 and a beta of 0.99. The firm has a fifty day simple moving average of $28.68 and a 200-day simple moving average of $25.25. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.94. Corebridge Financial, Inc. has a twelve month low of $16.13 and a twelve month high of $34.66.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 23.64%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the firm posted $0.97 EPS. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.95 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.19%. Corebridge Financial’s dividend payout ratio (DPR) is 24.21%.

Corebridge Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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