3Chopt Investment Partners LLC purchased a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,220 shares of the company's stock, valued at approximately $291,000.
Several other institutional investors and hedge funds have also made changes to their positions in CRBG. Smartleaf Asset Management LLC increased its position in Corebridge Financial by 112.4% in 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 period. Oarsman Capital Inc. acquired a new stake in Corebridge Financial in the fourth quarter worth $30,000. Sunbelt Securities Inc. acquired a new stake in Corebridge Financial in the fourth quarter worth $30,000. Whittier Trust Co. of Nevada Inc. increased its position in Corebridge Financial by 58.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after buying an additional 423 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Corebridge Financial by 25.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after buying an additional 329 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.
Corebridge Financial Price Performance
NYSE:CRBG opened at $35.92 on Friday. The business's 50-day moving average price is $31.91 and its 200 day moving average price is $31.44. The firm has a market cap of $19.75 billion, a P/E ratio of 30.44, a PEG ratio of 0.58 and a beta of 1.04. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.03. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96.
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, topping analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.
Corebridge Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.24 dividend. 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 2.67%. Corebridge Financial's dividend payout ratio (DPR) is 81.36%.
Analyst Ratings Changes
CRBG has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Corebridge Financial from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Friday. Piper Sandler raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Keefe, Bruyette & Woods raised their price target on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price target on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $37.67.
Get Our Latest Stock Analysis on Corebridge Financial
Corebridge Financial Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Corebridge Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corebridge Financial wasn't on the list.
While Corebridge Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
