Mitsubishi UFJ Trust & Banking Corp Has $6.70 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 48.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 223,933 shares of the company’s stock after selling 214,391 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corebridge Financial were worth $6,702,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Corebridge Financial by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company’s stock worth $716,083,000 after acquiring an additional 711,857 shares during the period. LPL Financial LLC increased its holdings in shares of Corebridge Financial by 15.5% in the fourth quarter. LPL Financial LLC now owns 174,185 shares of the company’s stock valued at $5,213,000 after purchasing an additional 23,340 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Corebridge Financial in the fourth quarter valued at about $505,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Corebridge Financial during the 4th quarter worth about $2,320,000. Finally, Sei Investments Co. boosted its holdings in shares of Corebridge Financial by 22.9% during the 4th quarter. Sei Investments Co. now owns 701,228 shares of the company’s stock worth $20,989,000 after buying an additional 130,439 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Down 2.8 %

Shares of Corebridge Financial stock opened at $31.34 on Monday. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-month high of $35.36. The company has a market cap of $17.42 billion, a P/E ratio of 8.29, a PEG ratio of 0.43 and a beta of 0.92. The company’s fifty day simple moving average is $32.74 and its two-hundred day simple moving average is $31.26. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG) last issued its quarterly 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 net margin of 11.39% and a return on equity of 22.69%. Research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently disclosed 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 3.06%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is presently 25.40%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BMO Capital Markets started coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a report on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $35.00 to $43.00 in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

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.