Fox Run Management L.L.C. Purchases Shares of 16,884 Corebridge Financial, Inc. (NYSE:CRBG)

Fox Run Management L.L.C. purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 16,884 shares of the company’s stock, valued at approximately $505,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the 4th quarter valued at $27,000. Smartleaf Asset Management LLC boosted its holdings in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Corebridge Financial in the third quarter worth about $27,000. Finally, Blue Trust Inc. lifted its position in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after purchasing an additional 729 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRBG shares. Wells Fargo & Company lifted their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Piper Sandler boosted their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $33.31 on Wednesday. The business has a 50 day simple moving average of $32.70 and a 200 day simple moving average of $31.15. Corebridge Financial, Inc. has a one year low of $23.97 and a one year high of $35.36. The company has a market capitalization of $18.52 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. 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 (NYSE:CRBG) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 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%. On average, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. Corebridge Financial’s payout ratio is 25.40%.

Corebridge Financial 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.