Corebridge Financial, Inc. $CRBG Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 19.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 81,009 shares of the company’s stock after selling 19,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $2,444,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Community Bank N.A. purchased a new stake in shares of Corebridge Financial during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 83.6% in the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after acquiring an additional 377 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in 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 acquiring an additional 532 shares in the last quarter. Rothschild Investment LLC grew its holdings in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after acquiring an additional 520 shares in the last quarter. Finally, True Wealth Design LLC increased its position 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 purchasing an additional 412 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America decreased their price objective on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings cut Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price target on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Morgan Stanley lowered their price objective on 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. Finally, Barclays dropped their price objective on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.17.

Corebridge Financial Trading Up 1.8%

Shares of Corebridge Financial stock opened at $27.62 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $26.37 and a 200-day simple moving average of $28.02. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 0.29 and a beta of 1.14. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share 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 company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period last year, the firm earned $1.16 earnings per share. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.89 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Corebridge Financial’s payout ratio is 181.82%.

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.