Cetera Investment Advisers Has $602,000 Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Cetera Investment Advisers boosted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 40.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,125 shares of the company’s stock after purchasing an additional 5,814 shares during the period. Cetera Investment Advisers’ holdings in Corebridge Financial were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after buying an additional 480 shares in the last quarter. Oarsman Capital Inc. bought a new stake in Corebridge Financial during the 4th quarter worth approximately $30,000. Blue Trust Inc. grew its position in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Corebridge Financial by 25.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $49,000 after purchasing an additional 329 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRBG. Barclays increased their target price on Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods upped their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Corebridge Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Piper Sandler raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Morgan Stanley boosted their target price on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Corebridge Financial Stock Up 0.5%

Shares of NYSE CRBG opened at $31.80 on Tuesday. The firm has a market capitalization of $17.48 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $35.36. The firm’s 50-day moving average is $30.15 and its 200-day moving average is $31.18.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the business posted $1.10 earnings per share. Equities analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Monday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently 81.36%.

Corebridge Financial Company 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.