53,100 Shares in Corebridge Financial, Inc. $CRBG Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 53,100 shares of the company’s stock, valued at approximately $1,602,000.

Other large investors also recently bought and sold shares of the company. Community Bank N.A. purchased a new position in Corebridge Financial during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the period. Salomon & Ludwin LLC raised its stake in Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after purchasing an additional 532 shares during the period. Root Financial Partners LLC purchased a new position in Corebridge Financial during the third quarter worth approximately $32,000. Finally, True Wealth Design LLC raised its stake in Corebridge Financial by 50.2% during the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 412 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.3%

NYSE CRBG opened at $27.57 on Friday. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57. The company has a 50-day simple moving average of $25.32 and a 200-day simple moving average of $28.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $12.59 billion, a PE ratio of 50.12, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18.

Corebridge Financial (NYSE:CRBG) last posted its quarterly 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 net margin of 1.20% and a return on equity of 18.44%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm posted $1.16 earnings per share. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.9 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Corebridge Financial’s payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on shares of Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.92.

Corebridge Financial 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.