Ontario Teachers Pension Plan Board Has $871,000 Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Ontario Teachers Pension Plan Board raised its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 33.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 29,104 shares of the company’s stock after purchasing an additional 7,365 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Corebridge Financial were worth $871,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Corebridge Financial by 13.3% in the 3rd quarter. Wellington Management Group LLP now owns 78,488 shares of the company’s stock worth $2,289,000 after acquiring an additional 9,229 shares in the last quarter. XTX Topco Ltd grew its position in Corebridge Financial by 27.2% in the 3rd quarter. XTX Topco Ltd now owns 10,505 shares of the company’s stock worth $306,000 after purchasing an additional 2,246 shares in the last quarter. MML Investors Services LLC increased its stake in Corebridge Financial by 6.5% in the 3rd quarter. MML Investors Services LLC now owns 17,170 shares of the company’s stock valued at $501,000 after buying an additional 1,055 shares during the last quarter. Barclays PLC boosted its stake in shares of Corebridge Financial by 20.0% in the 3rd quarter. Barclays PLC now owns 358,035 shares of the company’s stock worth $10,441,000 after buying an additional 59,702 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of recent analyst reports. BMO Capital Markets began 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. Wells Fargo & Company reduced their price target on shares of Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. UBS Group downgraded Corebridge Financial from a “buy” rating to a “sell” rating and decreased their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Corebridge Financial from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.15.

Corebridge Financial Price Performance

NYSE:CRBG opened at $27.31 on Thursday. The firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.43 and a beta of 0.98. 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 stock has a fifty day moving average of $31.21 and a 200 day moving average of $31.19. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $35.36.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. On average, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.24 per share. The ex-dividend date was Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 3.52%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio (DPR) is 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.