Bayesian Capital Management LP Invests $1.92 Million in Corebridge Financial, Inc. (NYSE:CRBG)

Bayesian Capital Management LP acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 64,100 shares of the company's stock, valued at approximately $1,919,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRBG. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial during the 4th quarter worth about $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC increased its position in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after buying an additional 480 shares during the last quarter. Oarsman Capital Inc. bought a new position in Corebridge Financial during the fourth quarter worth $30,000. Finally, Blue Trust Inc. grew its stake in 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 during the last quarter. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Up 0.2 %

CRBG traded up $0.07 during mid-day trading on Wednesday, hitting $31.36. 4,576,274 shares of the stock were exchanged, compared to its average volume of 3,510,586. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.32 billion, a PE ratio of 8.30, a PEG ratio of 0.43 and a beta of 1.01. The firm's fifty day moving average is $30.12 and its two-hundred day moving average is $31.14. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36.

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

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.06%. Corebridge Financial's payout ratio is currently 25.40%.

Analyst Ratings Changes

A number of research analysts recently commented on CRBG shares. BMO Capital Markets began coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target for the company. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and reduced their target price for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Barclays upped their price target on Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Piper Sandler upped 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.62.

Corebridge Financial Company Profile

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.