Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 34.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,300 shares of the company’s stock after purchasing an additional 18,800 shares during the period. Daiwa Securities Group Inc.’s holdings in Corebridge Financial were worth $2,194,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in shares of Corebridge Financial by 11.3% during 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Corebridge Financial during the third quarter worth approximately $581,000. New York Life Investment Management LLC purchased a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $781,000. State Street Corp increased its position in shares of 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 purchasing an additional 843,559 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in shares of Corebridge Financial during the third quarter worth approximately $2,370,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock opened at $31.78 on Friday. Corebridge Financial, Inc. has a 52 week low of $23.97 and a 52 week high of $35.36. The business’s fifty day simple moving average is $32.42 and its 200-day simple moving average is $30.92. The firm has a market cap of $17.67 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. Equities analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current 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 paid a dividend of $0.24 per share. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.02%. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CRBG shares. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. TD Cowen boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Monday, January 6th. Finally, Piper Sandler boosted their price objective on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.