Bridgefront Capital LLC Buys 2,819 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Bridgefront Capital LLC raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,654 shares of the company’s stock after purchasing an additional 2,819 shares during the period. Bridgefront Capital LLC’s holdings in Corebridge Financial were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Corebridge Financial by 20.0% in the third quarter. Barclays PLC now owns 358,035 shares of the company’s stock valued at $10,441,000 after purchasing an additional 59,702 shares during the period. Tidal Investments LLC raised its holdings in Corebridge Financial by 38.0% during the 3rd quarter. Tidal Investments LLC now owns 31,780 shares of the company’s stock valued at $927,000 after acquiring an additional 8,751 shares during the period. Franklin Resources Inc. lifted its position in shares of Corebridge Financial by 68.6% during the third quarter. Franklin Resources Inc. now owns 423,654 shares of the company’s stock worth $12,981,000 after acquiring an additional 172,397 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Corebridge Financial in the fourth quarter worth $437,000. Finally, Diversified Trust Co grew its position in shares of Corebridge Financial by 128.5% in the fourth quarter. Diversified Trust Co now owns 65,167 shares of the company’s stock valued at $1,950,000 after purchasing an additional 36,651 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRBG shares. Morgan Stanley cut their target price on Corebridge Financial from $43.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. UBS Group cut shares of Corebridge Financial from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Piper Sandler 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, April 2nd. Finally, Barclays reduced their price target on shares of Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average price target of $36.15.

Corebridge Financial Stock Down 0.5 %

NYSE CRBG opened at $30.52 on Tuesday. The business’s 50-day moving average is $30.23 and its 200 day moving average is $31.14. The stock has a market capitalization of $16.86 billion, a PE ratio of 8.07, a PEG ratio of 0.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $35.36.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same quarter in the prior year, the company earned $1.10 earnings per share. Sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.24 per share. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.15%. Corebridge Financial’s payout ratio is presently 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.