Corebridge Financial, Inc. (NYSE:CRBG) Holdings Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 328.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 386,423 shares of the company’s stock after buying an additional 296,337 shares during the period. Wells Fargo & Company MN owned 0.07% of Corebridge Financial worth $11,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CRBG. Fortitude Family Office LLC acquired a new position in Corebridge Financial during the 4th quarter worth $27,000. FNY Investment Advisers LLC acquired a new position in Corebridge Financial during the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares during the period. Blue Trust Inc. boosted its holdings in shares of Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock valued at $33,000 after acquiring an additional 729 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Corebridge Financial by 58.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company cut their target price on Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Barclays decreased their target price on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Piper Sandler boosted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Morgan Stanley cut their price target on shares of Corebridge Financial from $43.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and an average price target of $36.15.

Corebridge Financial Trading Up 1.6 %

NYSE CRBG opened at $27.78 on Wednesday. The firm’s 50 day moving average price is $31.34 and its two-hundred day moving average price is $31.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.43 and a beta of 0.98.

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

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.46%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial’s dividend payout ratio is presently 25.40%.

About Corebridge Financial

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.