Squarepoint Ops LLC Boosts Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Squarepoint Ops LLC raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 106.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,088,442 shares of the company's stock after purchasing an additional 562,022 shares during the quarter. Squarepoint Ops LLC owned 0.19% of Corebridge Financial worth $32,577,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Oarsman Capital Inc. purchased a new stake in shares of Corebridge Financial during the 4th quarter worth about $30,000. Blue Trust Inc. boosted its stake in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after acquiring an additional 729 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after acquiring an additional 423 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Corebridge Financial by 25.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after acquiring an additional 329 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Trading Up 0.2%

Shares of Corebridge Financial stock opened at $32.94 on Wednesday. The firm has a market capitalization of $18.11 billion, a PE ratio of 8.71, a P/E/G ratio of 0.43 and a beta of 1.01. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The firm's 50-day moving average price is $30.19 and its 200 day moving average price is $31.18. 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 (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The firm 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 company posted $1.10 EPS. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid 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 81.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price on the stock. Morgan Stanley increased 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. 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 note on Wednesday, April 2nd. Finally, Wells Fargo & Company increased their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.

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