Corebridge Financial, Inc. $CRBG Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 64.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,176 shares of the company’s stock after purchasing an additional 31,391 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Corebridge Financial were worth $2,488,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Community Bank N.A. purchased a new stake in shares of Corebridge Financial in the third quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake in Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Corebridge Financial in the 3rd quarter worth about $32,000. Assetmark Inc. raised its holdings in shares of Corebridge Financial by 47.7% in the 3rd quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock worth $45,000 after purchasing an additional 449 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Corebridge Financial by 41.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,679 shares of the company’s stock valued at $54,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of CRBG opened at $24.15 on Thursday. The stock has a market capitalization of $11.63 billion, a PE ratio of -45.56, a price-to-earnings-growth ratio of 0.38 and a beta of 1.12. The business’s fifty day moving average price is $27.33 and its 200 day moving average price is $29.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $36.57.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $5.02 billion. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Equities research analysts forecast 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 was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s payout ratio is currently -188.68%.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “moderate buy” rating and set a $32.00 target price on shares of Corebridge Financial in a research report on Thursday, March 26th. UBS Group reduced their price target on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Mizuho assumed coverage on shares of Corebridge Financial in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.