FORA Capital LLC Sells 15,303 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

FORA Capital LLC cut its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,134 shares of the company's stock after selling 15,303 shares during the quarter. FORA Capital LLC's holdings in Corebridge Financial were worth $1,860,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC increased its holdings in Corebridge Financial by 112.4% in the 4th 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. Oarsman Capital Inc. bought a new position in Corebridge Financial in the 4th quarter valued at about $30,000. Finally, Blue Trust Inc. increased 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 buying an additional 729 shares during the period. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Price Performance

Shares of CRBG traded down $0.13 during mid-day trading on Friday, reaching $31.17. The company had a trading volume of 1,491,895 shares, compared to its average volume of 3,493,503. The company's 50 day simple moving average is $30.04 and its 200 day simple moving average is $31.13. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36. 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 company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.43 and a beta of 1.01.

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 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 company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the company posted $1.10 EPS. Analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 3.08%. Corebridge Financial's dividend payout ratio is presently 81.36%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their target price for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price on the stock. Piper Sandler raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley decreased their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.62.

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.