Kepler Cheuvreux Suisse SA Takes $1.09 Million Position in Corebridge Financial, Inc. $CRBG

Kepler Cheuvreux Suisse SA bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the first quarter, Holdings Channel.com reports. The fund bought 45,757 shares of the company’s stock, valued at approximately $1,092,000.

Several other institutional investors also recently added to or reduced their stakes in the business. State of Michigan Retirement System acquired a new position in Corebridge Financial during the 4th quarter valued at $2,130,000. Dimensional Fund Advisors LP boosted its holdings in Corebridge Financial by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock valued at $214,372,000 after purchasing an additional 430,308 shares during the period. Russell Investments Group Ltd. grew its position in Corebridge Financial by 19.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,492 shares of the company’s stock worth $48,712,000 after purchasing an additional 245,695 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Corebridge Financial by 873.3% during the 4th quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock worth $2,591,000 after purchasing an additional 79,018 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Corebridge Financial by 241.4% during the 4th quarter. Retirement Systems of Alabama now owns 453,751 shares of the company’s stock worth $13,690,000 after purchasing an additional 320,851 shares during the period. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Performance

NYSE CRBG opened at $29.74 on Friday. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock has a market cap of $13.26 billion, a P/E ratio of 54.07, a PEG ratio of 0.33 and a beta of 1.10. The company’s 50-day simple moving average is $27.71 and its 200 day simple moving average is $27.91.

Corebridge Financial (NYSE:CRBG) last issued 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 return on equity of 18.44% and a net margin of 1.20%.The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, research analysts forecast that Corebridge Financial, Inc. will post 4.75 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.4%. Corebridge Financial’s dividend payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen reduced their target price on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Mizuho boosted their price target on Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Barclays cut their price target on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price objective on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group decreased their price objective on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.36.

Corebridge Financial Company Profile

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.