Sei Investments Co. Acquires 130,439 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Sei Investments Co. increased its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 22.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 701,228 shares of the company’s stock after buying an additional 130,439 shares during the quarter. Sei Investments Co. owned 0.12% of Corebridge Financial worth $20,989,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC raised its stake in Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock worth $49,000 after acquiring an additional 329 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock worth $34,000 after purchasing an additional 423 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Corebridge Financial by 3.1% in the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock valued at $664,000 after buying an additional 660 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after buying an additional 729 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRBG. TD Cowen increased their price target on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler increased their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a report on Monday, January 6th. BMO Capital Markets started coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Finally, Morgan Stanley raised shares of 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 report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Price Performance

CRBG stock opened at $32.86 on Thursday. 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 company’s fifty day simple moving average is $32.74 and its 200 day simple moving average is $31.16. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-month high of $35.36. The firm has a market cap of $18.27 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last announced its earnings results 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 net margin of 11.39% and a return on equity of 22.69%. On average, analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s payout ratio is presently 25.40%.

Corebridge Financial Company 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.