State of Alaska Department of Revenue Takes $801,000 Position in Corebridge Financial, Inc. $CRBG

State of Alaska Department of Revenue bought a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,555 shares of the company’s stock, valued at approximately $801,000.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Corebridge Financial by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after acquiring an additional 1,805,819 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Corebridge Financial by 19.3% in the 3rd quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock worth $715,651,000 after acquiring an additional 3,605,498 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Corebridge Financial by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock worth $214,372,000 after acquiring an additional 430,308 shares in the last quarter. LSV Asset Management raised its position in shares of Corebridge Financial by 2.1% in the 3rd quarter. LSV Asset Management now owns 4,685,535 shares of the company’s stock worth $150,171,000 after acquiring an additional 98,435 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Corebridge Financial by 42.8% in the 2nd quarter. Bank of America Corp DE now owns 2,884,599 shares of the company’s stock worth $102,403,000 after acquiring an additional 864,946 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler raised Corebridge Financial to a “strong-buy” rating in a research report on Thursday, April 2nd. Barclays dropped their target price on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut shares of Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Bank of America dropped their target price on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Corebridge Financial Trading Up 1.2%

Corebridge Financial stock opened at $26.60 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $28.92. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of -50.18, a price-to-earnings-growth ratio of 0.43 and a beta of 1.12.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, February 11th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.The business had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, equities analysts predict that Corebridge Financial, Inc. will post 5.04 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s dividend payout ratio (DPR) is -188.68%.

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.