498,378 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 498,378 shares of the company's stock, valued at approximately $14,916,000. Freestone Grove Partners LP owned approximately 0.09% of Corebridge Financial at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Corebridge Financial during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC boosted its position in Corebridge Financial by 112.4% during 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. FNY Investment Advisers LLC acquired a new stake in Corebridge Financial during the fourth quarter valued at $27,000. Oarsman Capital Inc. purchased a new position in Corebridge Financial in the fourth quarter valued at about $30,000. Finally, Blue Trust Inc. increased its position in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after purchasing an additional 729 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRBG has been the subject of several recent research reports. BMO Capital Markets began coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target for the company. Morgan Stanley decreased their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company cut their price target on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Barclays cut their target price on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. One investment analyst has 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 stock has an average rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Stock Performance

Shares of CRBG traded down $0.14 during mid-day trading on Monday, hitting $30.52. The company's stock had a trading volume of 2,583,577 shares, compared to its average volume of 3,502,710. The stock's 50-day moving average is $30.27 and its two-hundred day moving average is $31.15. The firm has a market capitalization of $16.86 billion, a PE ratio of 8.07, 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. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36.

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, missing analysts' consensus estimates of $1.18 by ($0.02). 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 company earned $1.10 earnings per share. As a group, sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.15%. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's payout ratio is currently 25.40%.

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.