Corebridge Financial, Inc. $CRBG Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 14.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 121,282 shares of the company’s stock after selling 20,400 shares during the period. New York State Common Retirement Fund’s holdings in Corebridge Financial were worth $3,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in Corebridge Financial by 1,223.6% during the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after acquiring an additional 673 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Corebridge Financial in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in shares of Corebridge Financial in the third quarter valued at approximately $32,000. Assetmark Inc. raised its stake in shares of Corebridge Financial by 60.9% during the second quarter. Assetmark Inc. now owns 941 shares of the company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Corebridge Financial by 86.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock worth $46,000 after purchasing an additional 603 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Evercore lowered their price objective on shares of Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Zacks Research lowered shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Mizuho initiated coverage on shares of Corebridge Financial in a report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 price target for the company. Wolfe Research began coverage on Corebridge Financial in a report on Friday, October 10th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company cut their target price on Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.70.

Corebridge Financial Trading Up 4.7%

Shares of CRBG opened at $31.19 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $30.55 and its two-hundred day moving average is $31.83. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.57. The firm has a market capitalization of $16.23 billion, a P/E ratio of 18.57, a PEG ratio of 0.42 and a beta of 1.04.

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.