Capital Fund Management S.A. Decreases Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Capital Fund Management S.A. lowered its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 14.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 419,809 shares of the company’s stock after selling 73,261 shares during the period. Capital Fund Management S.A.’s holdings in Corebridge Financial were worth $12,565,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Nippon Life Insurance Co. purchased a new stake in Corebridge Financial in the fourth quarter worth $3,650,151,000. Vanguard Group Inc. raised its stake in Corebridge Financial by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company’s stock valued at $716,083,000 after acquiring an additional 711,857 shares during the period. Norges Bank purchased a new stake in Corebridge Financial during the fourth quarter valued at about $283,212,000. Clearbridge Investments LLC boosted its position in Corebridge Financial by 23.3% during the fourth quarter. Clearbridge Investments LLC now owns 5,305,120 shares of the company’s stock worth $158,782,000 after purchasing an additional 1,001,848 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of Corebridge Financial by 222.9% in the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after purchasing an additional 3,202,145 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Up 0.2 %

Shares of NYSE CRBG opened at $26.71 on Friday. 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 business has a 50-day moving average of $31.56 and a 200-day moving average of $31.24. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36.

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

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.59%. Corebridge Financial’s payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of recent research reports. BMO Capital Markets began 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 on the stock. Wells Fargo & Company cut their price target on Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler boosted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Barclays cut their target price on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a research 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 stock. According to data from MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and an average target price of $36.15.

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.