Securian Asset Management Inc. Purchases Shares of 19,483 Corebridge Financial, Inc. $CRBG

Securian Asset Management Inc. purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,483 shares of the company’s stock, valued at approximately $588,000.

Other large investors also recently made changes to their positions in the company. Community Bank N.A. bought a new stake in Corebridge Financial in the 3rd quarter valued at $26,000. Smartleaf Asset Management LLC increased its holdings in Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after purchasing an additional 532 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Corebridge Financial in the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC lifted its holdings in shares of Corebridge Financial by 50.2% in the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after purchasing an additional 412 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $31.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Mizuho boosted their target price on Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. reduced their price target on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Zacks Research cut shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average price target of $35.92.

Corebridge Financial Trading Up 4.3%

Corebridge Financial stock opened at $27.58 on Friday. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 50.14, a P/E/G ratio of 0.29 and a beta of 1.18. The firm has a 50-day moving average of $25.30 and a 200-day moving average of $28.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities analysts expect that Corebridge Financial, Inc. will post 4.91 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Corebridge Financial’s payout ratio is 181.82%.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.