Havemeyer Place LP Makes New $1.70 Million Investment in Corebridge Financial, Inc. $CRBG

Havemeyer Place LP acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 56,470 shares of the company’s stock, valued at approximately $1,704,000.

Several other large investors have also recently bought and sold shares of CRBG. Goldman Sachs Group Inc. lifted its holdings in Corebridge Financial by 229.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after buying an additional 905,918 shares in the last quarter. Focus Partners Wealth acquired a new position in Corebridge Financial during the 1st quarter worth $384,000. Creative Planning acquired a new position in Corebridge Financial during the 2nd quarter worth $243,000. EverSource Wealth Advisors LLC lifted its holdings in Corebridge Financial by 58.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company’s stock worth $162,000 after buying an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Corebridge Financial by 64.4% during the 2nd quarter. Cerity Partners LLC now owns 92,554 shares of the company’s stock valued at $3,286,000 after acquiring an additional 36,239 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

CRBG has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 3rd. Barclays dropped their target price on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. UBS Group dropped their target price on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Zacks Research cut shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Finally, Mizuho upped their target price on shares of Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Corebridge Financial Price Performance

CRBG opened at $26.90 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57. The company has a fifty day simple moving average of $26.21 and a 200 day simple moving average of $28.03. The stock has a market cap of $12.29 billion, a P/E ratio of 48.92, a P/E/G ratio of 0.29 and a beta of 1.14.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the company earned $1.16 EPS. On average, research analysts expect that Corebridge Financial, Inc. will post 4.89 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Corebridge Financial’s dividend payout ratio is currently 181.82%.

Corebridge Financial Company Profile

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.