Brevan Howard Capital Management LP Makes New Investment in Corebridge Financial, Inc. (NYSE:CRBG)

Brevan Howard Capital Management LP acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,330 shares of the company's stock, valued at approximately $758,000.

Several other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC raised its position in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after buying an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new position in shares of Corebridge Financial in the 4th quarter valued at approximately $30,000. Finally, Blue Trust Inc. raised its position in shares of Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after buying an additional 729 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Trading Down 1.6%

Shares of NYSE:CRBG traded down $0.52 during trading on Wednesday, reaching $32.27. The stock had a trading volume of 5,909,468 shares, compared to its average volume of 3,497,512. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36. The firm's fifty day moving average is $30.04 and its 200 day moving average is $31.15. The stock has a market cap of $17.76 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.43 and a beta of 1.01.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the previous year, the company earned $1.10 EPS. As a group, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. Corebridge Financial's payout ratio is presently 81.36%.

Analyst Ratings Changes

A number of research firms have weighed in on CRBG. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Piper Sandler boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their target price for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Corebridge Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.62.

About Corebridge Financial

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.