Two Sigma Advisers LP Sells 822,100 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Two Sigma Advisers LP trimmed its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 72.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,500 shares of the company's stock after selling 822,100 shares during the quarter. Two Sigma Advisers LP owned 0.05% of Corebridge Financial worth $9,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRBG. Barclays PLC lifted its position in shares of Corebridge Financial by 20.0% during the 3rd 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. Park Avenue Securities LLC lifted its holdings in Corebridge Financial by 52.2% in the 4th quarter. Park Avenue Securities LLC now owns 12,210 shares of the company's stock worth $365,000 after purchasing an additional 4,188 shares in the last quarter. Perpetual Ltd purchased a new position in Corebridge Financial in the 4th quarter worth approximately $298,000. SG Americas Securities LLC lifted its holdings in Corebridge Financial by 113.5% in the 4th quarter. SG Americas Securities LLC now owns 189,561 shares of the company's stock worth $5,674,000 after purchasing an additional 100,778 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Corebridge Financial by 3.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 38,341 shares of the company's stock worth $1,148,000 after purchasing an additional 1,154 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Down 0.0%

NYSE:CRBG traded down $0.01 during mid-day trading on Wednesday, reaching $32.54. The stock had a trading volume of 505,928 shares, compared to its average volume of 3,398,765. The company has a market capitalization of $17.89 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36. The stock's 50 day simple moving average is $30.15 and its two-hundred day simple moving average is $31.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13.

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

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's dividend payout ratio is currently 81.36%.

Analysts Set New Price Targets

CRBG has been the topic of several recent research reports. Wall Street Zen cut Corebridge Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upped their price objective on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Barclays boosted their target price on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Piper Sandler boosted their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Two equities 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.