Corebridge Financial, Inc. (NYSE:CRBG) Stock Position Lifted by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lifted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,018,019 shares of the company’s stock after acquiring an additional 1,038 shares during the quarter. Artisan Partners Limited Partnership owned 0.35% of Corebridge Financial worth $60,399,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRBG. Public Employees Retirement System of Ohio boosted its holdings in Corebridge Financial by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock worth $4,871,000 after purchasing an additional 16,970 shares during the period. Virtu Financial LLC acquired a new position in shares of Corebridge Financial in the 3rd quarter valued at about $581,000. New York Life Investment Management LLC bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $781,000. State Street Corp raised its stake in Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after acquiring an additional 843,559 shares during the period. Finally, First Hawaiian Bank bought a new position in Corebridge Financial in the fourth quarter worth about $1,168,000. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Trading Down 1.8 %

Shares of NYSE:CRBG opened at $32.21 on Friday. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.91 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.43 and a beta of 0.92. The company has a 50 day moving average of $32.75 and a 200-day moving average of $31.17.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.24 per share. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, March 17th. Corebridge Financial’s payout ratio is presently 25.40%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Piper Sandler boosted their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

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.