Diversified Trust Co Purchases 3,336 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Diversified Trust Co lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,503 shares of the company’s stock after acquiring an additional 3,336 shares during the period. Diversified Trust Co’s holdings in Corebridge Financial were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Corebridge Financial by 25.1% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Corebridge Financial by 112.4% in the 4th 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. Sanctuary Advisors LLC grew its position in Corebridge Financial by 3.1% in the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock worth $664,000 after purchasing an additional 660 shares during the period. Finally, MetLife Investment Management LLC grew its position in Corebridge Financial by 16.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,193 shares of the company’s stock worth $155,000 after purchasing an additional 715 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Up 2.6%

Shares of CRBG stock opened at $35.92 on Friday. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $36.03. The firm has a fifty day moving average price of $31.91 and a 200-day moving average price of $31.43. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 0.56 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is 81.36%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday. Wall Street Zen raised shares of Corebridge Financial from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Keefe, Bruyette & Woods lifted their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and cut their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.85.

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.