Denali Advisors LLC Sells 7,244 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Denali Advisors LLC lowered its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,249 shares of the company's stock after selling 7,244 shares during the period. Denali Advisors LLC's holdings in Corebridge Financial were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. Oarsman Capital Inc. purchased a new stake in Corebridge Financial during the 4th quarter valued at $30,000. Sunbelt Securities Inc. bought a new stake in shares of Corebridge Financial in the fourth quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its position in Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after buying an additional 423 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Corebridge Financial by 80.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,681 shares of the company's stock worth $50,000 after purchasing an additional 748 shares during the period. Finally, Quarry LP purchased a new position in Corebridge Financial during the 4th quarter valued at approximately $63,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRBG. UBS Group raised shares of Corebridge Financial from a "sell" rating to a "neutral" rating and upped their price target for the stock from $28.00 to $37.00 in a research report on Friday, July 11th. BMO Capital Markets raised their price target on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Morgan Stanley upped their target price on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Wall Street Zen cut shares of Corebridge Financial from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Finally, Piper Sandler raised their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $39.91.

Corebridge Financial Trading Up 1.2%

CRBG stock traded up $0.44 during midday trading on Wednesday, reaching $35.40. The stock had a trading volume of 347,129 shares, compared to its average volume of 3,238,382. The business has a fifty day simple moving average of $33.44 and a two-hundred day simple moving average of $31.98. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 0.56 and a beta of 1.06. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.08.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same quarter in the previous year, the business posted $1.10 EPS. As a group, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) 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.