Alaska Permanent Fund Corp Sells 3,229 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Alaska Permanent Fund Corp lessened its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,671 shares of the company’s stock after selling 3,229 shares during the period. Alaska Permanent Fund Corp’s holdings in Corebridge Financial were worth $2,960,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in Corebridge Financial by 10.1% in the third quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock worth $337,022,000 after purchasing an additional 1,566,275 shares in the last quarter. TD Asset Management Inc raised its position in Corebridge Financial by 15.0% in the third quarter. TD Asset Management Inc now owns 5,252,950 shares of the company’s stock worth $103,746,000 after purchasing an additional 686,727 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Corebridge Financial by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,676,716 shares of the company’s stock worth $92,365,000 after purchasing an additional 19,746 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Corebridge Financial by 960.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,417,518 shares of the company’s stock worth $27,996,000 after purchasing an additional 1,283,901 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Corebridge Financial by 90.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock worth $27,306,000 after buying an additional 656,440 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CRBG shares. Keefe, Bruyette & Woods raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their price objective on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. UBS Group raised their price objective on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Morgan Stanley raised their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Evercore ISI raised their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and a consensus price target of $29.08.

Corebridge Financial Trading Down 0.6 %

CRBG stock traded down $0.17 during midday trading on Wednesday, reaching $27.16. The company’s stock had a trading volume of 3,260,412 shares, compared to its average volume of 4,236,776. Corebridge Financial, Inc. has a 52 week low of $14.91 and a 52 week high of $29.40. The stock has a market cap of $16.91 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The business’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $23.36.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts expect that Corebridge Financial, Inc. will post 4.82 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.39%. Corebridge Financial’s dividend payout ratio is 54.44%.

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.