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

Swiss National Bank lowered its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 7.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 752,665 shares of the company’s stock after selling 60,000 shares during the quarter. Swiss National Bank’s holdings in Corebridge Financial were worth $22,527,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CRBG. Public Employees Retirement System of Ohio increased its position in Corebridge Financial by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock worth $4,871,000 after buying an additional 16,970 shares during the last quarter. Virtu Financial LLC bought a new stake in Corebridge Financial in the 3rd quarter worth approximately $581,000. New York Life Investment Management LLC bought a new position in shares of Corebridge Financial during the 4th quarter valued at $781,000. State Street Corp increased its holdings in shares of Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after buying an additional 843,559 shares during the period. Finally, Qsemble Capital Management LP purchased a new position in shares of Corebridge Financial in the third quarter worth $2,370,000. 98.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CRBG. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $43.00 in a report on Friday, February 28th. Finally, TD Cowen raised their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Trading Up 2.6 %

Shares of Corebridge Financial stock opened at $32.61 on Tuesday. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-month high of $35.36. The firm’s 50 day simple moving average is $32.45 and its two-hundred day simple moving average is $30.97. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization 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 (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 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%. Analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

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