Two Sigma Investments LP Has $11.61 Million Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Two Sigma Investments LP cut its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 52.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 387,891 shares of the company's stock after selling 436,500 shares during the quarter. Two Sigma Investments LP owned about 0.07% of Corebridge Financial worth $11,610,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of 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 period. Oarsman Capital Inc. acquired a new position in Corebridge Financial in the 4th quarter valued at about $30,000. Blue Trust Inc. raised its holdings in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after acquiring an additional 729 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Corebridge Financial by 58.4% during the fourth 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 during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after acquiring an additional 329 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

CRBG stock traded down $0.22 during mid-day trading on Wednesday, hitting $32.33. The stock had a trading volume of 2,626,086 shares, compared to its average volume of 3,406,334. The firm has a fifty day simple moving average of $30.15 and a 200 day simple moving average of $31.19. The firm has a market capitalization of $17.77 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.43 and a beta of 1.01. 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 52 week low of $23.69 and a 52 week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results 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. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $1.10 EPS. As a group, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

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 paid a $0.24 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.97%. Corebridge Financial's payout ratio is 81.36%.

Analyst Upgrades and Downgrades

CRBG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered Corebridge Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company lifted 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. Barclays boosted their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price target for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Two 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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.