Public Employees Retirement System of Ohio Sells 24,108 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Public Employees Retirement System of Ohio reduced its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,930 shares of the company's stock after selling 24,108 shares during the period. Public Employees Retirement System of Ohio's holdings in Corebridge Financial were worth $4,278,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Corebridge Financial by 25.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $49,000 after purchasing an additional 329 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Corebridge Financial by 58.4% in the 4th 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 last quarter. Smartleaf Asset Management LLC grew its position in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after buying an additional 480 shares during the period. Sanctuary Advisors LLC increased its holdings in Corebridge Financial by 3.1% during the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after buying an additional 660 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Corebridge Financial by 16.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,193 shares of the company's stock worth $155,000 after buying an additional 715 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRBG. Barclays boosted their target price on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Piper Sandler increased their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Morgan Stanley lifted their target price on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and cut their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Corebridge Financial Trading Up 1.0%

Shares of CRBG stock traded up $0.32 during trading hours on Tuesday, reaching $32.94. The company's stock had a trading volume of 1,886,217 shares, compared to its average volume of 3,325,490. The company has a current ratio of 0.13, a quick 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 stock has a market capitalization of $18.11 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.43 and a beta of 1.01. The firm's fifty day simple moving average is $30.14 and its 200 day simple moving average is $31.26.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter in the previous year, the business posted $1.10 EPS. Equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is 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.