WINTON GROUP Ltd Makes New $793,000 Investment in Corebridge Financial, Inc. $CRBG

WINTON GROUP Ltd bought a new position in Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 26,300 shares of the company’s stock, valued at approximately $793,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Corebridge Financial by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after purchasing an additional 311,133 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Corebridge Financial by 5.8% in the 4th quarter. Pzena Investment Management LLC now owns 23,632,410 shares of the company’s stock worth $712,990,000 after purchasing an additional 1,303,211 shares in the last quarter. Norges Bank acquired a new position in Corebridge Financial in the 4th quarter worth about $611,550,000. Dimensional Fund Advisors LP increased its holdings in Corebridge Financial by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock worth $214,372,000 after purchasing an additional 430,308 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Corebridge Financial by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 5,139,404 shares of the company’s stock worth $154,607,000 after purchasing an additional 490,003 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price target on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Weiss Ratings cut Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Morgan Stanley decreased their price target on Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Bank of America decreased their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Mizuho raised their price target on shares of Corebridge Financial from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Corebridge Financial Trading Down 1.3%

NYSE CRBG opened at $27.25 on Thursday. The business has a 50 day simple moving average of $26.46 and a 200 day simple moving average of $28.02. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57. The stock has a market capitalization of $12.44 billion, a P/E ratio of 49.54, a P/E/G ratio of 0.30 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12.

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

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.7%. Corebridge Financial’s dividend payout ratio (DPR) is currently 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.