Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,815 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,651 shares of the company’s stock after purchasing an additional 8,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corebridge Financial were worth $1,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in Corebridge Financial in the 4th quarter valued at approximately $27,000. 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. FNY Investment Advisers LLC bought a new position in Corebridge Financial in the 4th quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Corebridge Financial in the 3rd quarter valued at approximately $27,000. Finally, Blue Trust Inc. lifted its stake in Corebridge Financial by 183.2% in 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. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Up 4.0 %

CRBG opened at $31.78 on Monday. Corebridge Financial, Inc. has a twelve month low of $23.97 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 fifty day moving average of $32.42 and a 200-day moving average of $30.94. The stock has a market cap of $17.67 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last posted 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%. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several research reports. Piper Sandler increased their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average price target of $37.29.

Corebridge Financial 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.