Kerusso Capital Management LLC Has $4.71 Million Position in Corebridge Financial, Inc. $CRBG

Kerusso Capital Management LLC lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 31.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,975 shares of the company’s stock after purchasing an additional 37,673 shares during the period. Corebridge Financial accounts for about 2.2% of Kerusso Capital Management LLC’s portfolio, making the stock its 13th biggest position. Kerusso Capital Management LLC’s holdings in Corebridge Financial were worth $4,706,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Community Bank N.A. acquired a new position in Corebridge Financial in the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its position in shares of Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the period. Salomon & Ludwin LLC grew its position in shares of Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the period. Root Financial Partners LLC bought a new stake in shares of Corebridge Financial in the 3rd quarter valued at $32,000. Finally, True Wealth Design LLC increased its stake in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRBG. Piper Sandler raised shares of Corebridge Financial to a “strong-buy” rating in a research note on Thursday, April 2nd. Mizuho decreased their price target on shares of Corebridge Financial from $39.00 to $31.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Bank of America dropped their price objective on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Barclays reduced their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Corebridge Financial Price Performance

Shares of CRBG opened at $26.53 on Friday. The business’s fifty day moving average is $25.67 and its 200 day moving average is $28.90. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $36.57. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. The stock has a market cap of $12.78 billion, a P/E ratio of -50.06, a P/E/G ratio of 0.36 and a beta of 1.12.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. The business had revenue of $6.34 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the business posted $1.06 EPS. Sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.99 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders 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 is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.8%. Corebridge Financial’s payout ratio is presently -188.68%.

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.