B. Metzler seel. Sohn & Co. AG Has $2.54 Million Position in Corebridge Financial, Inc. $CRBG

B. Metzler seel. Sohn & Co. AG cut its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 46.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,200 shares of the company’s stock after selling 67,400 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Corebridge Financial were worth $2,538,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. Vanguard Group Inc. increased its position in shares of Corebridge Financial by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after purchasing an additional 1,805,819 shares in the last quarter. Pzena Investment Management LLC boosted its position in Corebridge Financial by 19.3% in the third quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock valued at $715,651,000 after buying an additional 3,605,498 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Corebridge Financial by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock valued at $214,372,000 after buying an additional 430,308 shares in the last quarter. LSV Asset Management grew its stake in Corebridge Financial by 2.1% during the third quarter. LSV Asset Management now owns 4,685,535 shares of the company’s stock worth $150,171,000 after buying an additional 98,435 shares during the last quarter. Finally, Norges Bank bought a new stake in Corebridge Financial during the second quarter worth about $145,632,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the subject of a number of research analyst reports. Zacks Research cut shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Mizuho began coverage on Corebridge Financial in a research report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 price target on the stock. Barclays dropped their price target on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. JPMorgan Chase & Co. cut their price objective on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. Finally, UBS Group reduced their price objective on Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Corebridge Financial currently has an average rating of “Hold” and an average price target of $37.40.

Corebridge Financial Trading Down 0.2%

Shares of NYSE CRBG opened at $25.30 on Tuesday. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.57. The company has a 50-day moving average of $29.65 and a two-hundred day moving average of $30.90. The company has a market cap of $12.18 billion, a PE ratio of -47.73, a P/E/G ratio of 0.36 and a beta of 1.12. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Monday, February 9th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. During the same period in the prior year, the firm earned $1.06 earnings per share. As a group, equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is 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 -181.13%.

Corebridge Financial Company Profile

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.