Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its position in Corebridge Financial, Inc. (NYSE:CRBG) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,400 shares of the company’s stock after selling 5,376 shares during the quarter. First Horizon Advisors Inc.’s holdings in Corebridge Financial were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CRBG. Factory Mutual Insurance Co. grew its holdings in shares of Corebridge Financial by 47.1% during the fourth quarter. Factory Mutual Insurance Co. now owns 1,028,200 shares of the company’s stock valued at $22,271,000 after purchasing an additional 329,200 shares during the last quarter. Vanguard Group Inc. boosted its position in Corebridge Financial by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock valued at $337,022,000 after purchasing an additional 1,566,275 shares during the period. Artemis Investment Management LLP acquired a new stake in Corebridge Financial in the fourth quarter worth $18,378,000. Charles Schwab Investment Management Inc. increased its position in Corebridge Financial by 90.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock worth $27,306,000 after buying an additional 656,440 shares during the period. Finally, TD Asset Management Inc lifted its stake in Corebridge Financial by 15.0% in the third quarter. TD Asset Management Inc now owns 5,252,950 shares of the company’s stock valued at $103,746,000 after buying an additional 686,727 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRBG shares. Evercore ISI increased their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. UBS Group lifted their price target on Corebridge Financial from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. The Goldman Sachs Group boosted their price objective on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Piper Sandler raised their target price on Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Morgan Stanley lifted their target price on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.08.

Corebridge Financial Trading Up 2.0 %

Shares of Corebridge Financial stock opened at $28.68 on Monday. The business has a fifty day simple moving average of $26.61 and a 200-day simple moving average of $23.71. Corebridge Financial, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $29.53. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.05 by $0.05. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.50 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. During the same period in the prior year, the business earned $0.97 earnings per share. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.82 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s dividend payout ratio (DPR) is currently 24.21%.

Corebridge Financial 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.