18,952 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,952 shares of the company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRBG. Fortitude Family Office LLC purchased a new position in shares of Corebridge Financial in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after purchasing an additional 480 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial during the 4th quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Corebridge Financial in the third quarter valued at approximately $27,000. Finally, Blue Trust Inc. increased its holdings in shares of Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock valued at $33,000 after purchasing an additional 729 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Down 1.8 %

Shares of NYSE CRBG opened at $32.21 on Friday. The stock has a market cap of $17.91 billion, a P/E ratio of 8.52, a PEG ratio of 0.43 and a beta of 0.92. The business’s fifty day simple moving average is $32.75 and its 200-day simple moving average is $31.17. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-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.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS 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, equities analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on CRBG shares. Piper Sandler lifted their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays upgraded 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. Morgan Stanley upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $43.00 in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and a consensus target price of $37.29.

About Corebridge Financial

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.