Centiva Capital LP Grows Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Centiva Capital LP boosted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,440 shares of the company's stock after buying an additional 10,539 shares during the period. Centiva Capital LP's holdings in Corebridge Financial were worth $2,078,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays increased their price target on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. BMO Capital Markets started coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target on the stock. Piper Sandler upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, UBS Group cut 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 research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.62.

Corebridge Financial Stock Performance

Corebridge Financial stock traded up $1.44 on Monday, hitting $32.58. The company's stock had a trading volume of 605,071 shares, compared to its average volume of 3,482,081. The company has a fifty day moving average price of $30.04 and a 200-day moving average price of $31.13. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36. The firm has a market cap of $17.93 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted 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 analysts' expectations of $5.28 billion. During the same period in the prior year, the business earned $1.10 EPS. On average, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio is presently 81.36%.

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.