Bank of Nova Scotia Has $280,000 Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Bank of Nova Scotia trimmed its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 85.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,364 shares of the company’s stock after selling 53,303 shares during the quarter. Bank of Nova Scotia’s holdings in Corebridge Financial were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new stake in Corebridge Financial in the 4th quarter valued at $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 last quarter. Oarsman Capital Inc. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth about $30,000. Finally, Blue Trust Inc. lifted its holdings in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock valued at $33,000 after purchasing an additional 729 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRBG shares. UBS Group lowered shares of Corebridge Financial from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Barclays dropped their price target on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Piper Sandler boosted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.15.

Corebridge Financial Stock Performance

CRBG stock opened at $27.78 on Wednesday. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month 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 company has a market cap of $15.45 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The business’s fifty day moving average is $31.34 and its 200-day moving average is $31.22.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio is presently 25.40%.

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.