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

Principal Securities Inc. lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 557.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,044 shares of the company’s stock after buying an additional 8,516 shares during the period. Principal Securities Inc.’s holdings in Corebridge Financial were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Corebridge Financial during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial during the fourth quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in Corebridge Financial in the 3rd quarter valued at $28,000. Finally, HM Payson & Co. acquired a new position in Corebridge Financial in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by company insiders.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $32.72 on Monday. The firm has a market capitalization of $18.19 billion, a PE ratio of 8.65, a P/E/G ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 52 week low of $23.77 and a 52 week high of $34.66. The firm’s 50-day simple moving average is $31.70 and its 200 day simple moving average is $30.46. 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 earnings per share (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%. On average, equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Monday, March 17th. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio is 24.34%.

Analyst Ratings Changes

Several analysts have recently commented on CRBG shares. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. TD Cowen raised their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets initiated coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 target price on the stock. Morgan Stanley raised their price target on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, 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 report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.64.

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.