Corebridge Financial, Inc. $CRBG Shares Acquired by Cwm LLC

Cwm LLC boosted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,059 shares of the company’s stock after purchasing an additional 31,892 shares during the period. Cwm LLC’s holdings in Corebridge Financial were worth $2,868,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new position in Corebridge Financial during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake 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 valued at $27,000 after buying an additional 377 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Corebridge Financial in the third quarter valued at approximately $32,000. True Wealth Design LLC grew its holdings in Corebridge Financial by 50.2% during the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after acquiring an additional 412 shares during the period. Finally, Assetmark Inc. grew its holdings in Corebridge Financial by 47.7% during the third quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock worth $45,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

CRBG has been the subject of a number of recent analyst reports. Barclays reduced their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company 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 research note on Thursday, January 15th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. UBS Group lowered their price target on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, TD Cowen lowered their price target on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $26.53 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $36.57. The stock has a market cap of $12.78 billion, a PE ratio of -50.06, a price-to-earnings-growth ratio of 0.36 and a beta of 1.12. The firm’s fifty day simple moving average is $25.67 and its 200-day simple moving average is $28.90.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the company posted $1.06 EPS. Analysts expect that Corebridge Financial, Inc. will post 4.99 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s dividend payout ratio is currently -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.