Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 86.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,731 shares of the company's stock after selling 140,964 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Corebridge Financial were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Corebridge Financial during the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 480 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Corebridge Financial during the fourth quarter valued at approximately $27,000. Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial in the 4th quarter valued at approximately $30,000. Finally, Blue Trust Inc. boosted its holdings 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 worth $33,000 after purchasing an additional 729 shares during the period. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Down 0.1 %

NYSE:CRBG traded down $0.02 during trading hours on Tuesday, reaching $29.88. The company's stock had a trading volume of 406,405 shares, compared to its average volume of 3,550,474. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $16.50 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The stock has a 50 day moving average price of $30.49 and a two-hundred day moving average price of $31.17. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Equities analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.21%. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

Several research firms have commented on CRBG. BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays dropped their target price on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Morgan Stanley reduced their price target on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and cut their price objective for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.15.

Corebridge Financial 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.