Swiss National Bank Has $22.53 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Swiss National Bank cut its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 752,665 shares of the company’s stock after selling 60,000 shares during the period. Swiss National Bank owned 0.13% of Corebridge Financial worth $22,527,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Burkehill Global Management LP acquired a new stake in shares of Corebridge Financial in the 4th quarter valued at approximately $14,965,000. EverSource Wealth Advisors LLC lifted its stake in Corebridge Financial by 25.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $49,000 after acquiring an additional 329 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock valued at $138,829,000 after acquiring an additional 3,202,145 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Corebridge Financial by 34.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 73,300 shares of the company’s stock worth $2,194,000 after purchasing an additional 18,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Corebridge Financial by 15.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,651 shares of the company’s stock valued at $1,935,000 after purchasing an additional 8,815 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRBG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a report on Monday, January 6th. Piper Sandler upped their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.29.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $32.61 on Tuesday. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a fifty-two week low of $23.97 and a fifty-two week high of $35.36. 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 price of $32.45 and a 200-day moving average price of $30.97.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share 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%. As a group, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. Corebridge Financial’s dividend payout ratio is 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.