Squarepoint Ops LLC Purchases 562,022 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Squarepoint Ops LLC lifted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 106.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,088,442 shares of the company's stock after buying an additional 562,022 shares during the period. Squarepoint Ops LLC owned approximately 0.19% of Corebridge Financial worth $32,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC bought a new stake in Corebridge Financial during the fourth quarter worth $781,000. Raymond James Financial Inc. bought a new stake in shares of Corebridge Financial during the 4th quarter worth $31,844,000. Barclays PLC boosted its stake in Corebridge Financial by 20.0% in the third quarter. Barclays PLC now owns 358,035 shares of the company's stock valued at $10,441,000 after buying an additional 59,702 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Corebridge Financial by 4.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company's stock valued at $15,093,000 after acquiring an additional 20,783 shares during the last quarter. Finally, KBC Group NV raised its stake in Corebridge Financial by 77.9% during the fourth quarter. KBC Group NV now owns 1,222,448 shares of the company's stock worth $36,588,000 after acquiring an additional 535,323 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Analyst Ratings Changes

CRBG has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods upped their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley boosted their price target on Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Wall Street Zen lowered Corebridge Financial from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price target on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Stock Performance

NYSE:CRBG traded up $0.15 during trading hours on Monday, reaching $31.80. The stock had a trading volume of 2,922,961 shares, compared to its average volume of 3,412,223. The stock has a market cap of $17.48 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. 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 50 day simple moving average of $30.16 and a 200 day simple moving average of $31.17. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.16 earnings per share 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 quarter in the prior year, the firm posted $1.10 EPS. On average, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. Corebridge Financial's payout ratio is 81.36%.

About Corebridge Financial

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.