Schroder Investment Management Group Reduces Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Schroder Investment Management Group reduced its position in Corebridge Financial, Inc. (NYSE:CRBG) by 77.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 234,545 shares of the company’s stock after selling 822,788 shares during the period. Schroder Investment Management Group’s holdings in Corebridge Financial were worth $7,032,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Corebridge Financial in the third quarter valued at $27,000. Fortitude Family Office LLC purchased a new position in shares of Corebridge Financial during the fourth quarter worth about $27,000. FNY Investment Advisers LLC acquired a new position in Corebridge Financial in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC raised its stake in Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Trading Down 10.5 %

NYSE:CRBG opened at $25.62 on Friday. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $32.48 and a 200-day simple moving average of $31.29. The company has a market capitalization of $14.25 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

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 expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.24 per share. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.75%. Corebridge Financial’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of recent research reports. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and reduced their price objective for the company from $40.00 to $28.00 in a research report on Wednesday. Finally, Morgan Stanley upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.