Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its position in Corebridge Financial, Inc. (NYSE:CRBG) by 63.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325,692 shares of the company’s stock after purchasing an additional 126,157 shares during the period. American Century Companies Inc. owned 0.06% of Corebridge Financial worth $9,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of CRBG. Nippon Life Insurance Co. acquired a new position in Corebridge Financial in the fourth quarter valued at approximately $3,650,151,000. State Street Corp boosted its holdings in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after buying an additional 843,559 shares in the last quarter. FMR LLC grew its position in shares of Corebridge Financial by 13.5% in the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock valued at $146,678,000 after buying an additional 598,373 shares during the last quarter. Pzena Investment Management LLC raised its stake in Corebridge Financial by 222.9% during the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after acquiring an additional 3,202,145 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Corebridge Financial by 5.4% in the third quarter. Geode Capital Management LLC now owns 4,186,265 shares of the company’s stock valued at $121,765,000 after acquiring an additional 215,362 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Piper Sandler raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. UBS Group downgraded Corebridge Financial from a “buy” rating to a “sell” rating and decreased their price objective for the company from $40.00 to $28.00 in a report on Wednesday. Finally, Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Corebridge Financial Stock Up 1.2 %

Shares of Corebridge Financial stock opened at $31.98 on Thursday. Corebridge Financial, Inc. has a one year low of $23.97 and a one year high of $35.36. The company has a market cap of $17.78 billion, a P/E ratio of 8.46, a PEG ratio of 0.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a fifty day moving average of $32.71 and a two-hundred day moving average of $31.32.

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 net margin of 11.39% and a return on equity of 22.69%. On average, analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given 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 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial’s payout ratio is presently 25.40%.

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.