Corebridge Financial, Inc. (NYSE:CRBG) Holdings Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 34.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,803,433 shares of the company’s stock after buying an additional 1,235,796 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.84% of Corebridge Financial worth $143,767,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Corebridge Financial during the fourth quarter valued at $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial in the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its holdings in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after purchasing an additional 480 shares during the period. Oarsman Capital Inc. acquired a new position in Corebridge Financial in the 4th quarter valued at approximately $30,000. Finally, Blue Trust Inc. lifted its position in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after buying an additional 729 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRBG has been the topic of several research analyst reports. Piper Sandler boosted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company upped their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets initiated coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays raised their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.62.

Corebridge Financial Stock Down 0.4 %

Corebridge Financial stock opened at $31.17 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The firm has a fifty day moving average price of $30.04 and a two-hundred day moving average price of $31.14. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.43 and a beta of 1.01.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same quarter in the previous year, the firm earned $1.10 EPS. As a group, analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.08%. Corebridge Financial’s payout ratio is 81.36%.

About Corebridge Financial

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.