PharVision Advisers LLC Acquires Shares of 8,962 Corebridge Financial, Inc. (NYSE:CRBG)

PharVision Advisers LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,962 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Nippon Life Insurance Co. bought a new position in Corebridge Financial in the fourth quarter valued at about $3,650,151,000. Norges Bank bought a new position in shares of Corebridge Financial in the 4th quarter valued at about $283,212,000. Price T Rowe Associates Inc. MD grew its position in shares of Corebridge Financial by 31.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock worth $986,539,000 after buying an additional 7,828,929 shares during the period. Wellington Management Group LLP raised its stake in shares of Corebridge Financial by 4,624.2% during the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock worth $110,979,000 after buying an additional 3,629,472 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Corebridge Financial by 222.9% during the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock worth $138,829,000 after buying an additional 3,202,145 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price for the company. UBS Group lowered Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price target for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Barclays upped their price objective on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods upped their price target on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Price Performance

NYSE CRBG opened at $31.79 on Thursday. 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 stock has a market cap of $17.47 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.43 and a beta of 1.01. The business has a 50 day simple moving average of $30.19 and a 200 day simple moving average of $31.18. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $35.36.

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

Corebridge Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.02%. Corebridge Financial's dividend payout ratio is currently 81.36%.

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.

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