Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 413,456 shares of the company's stock after buying an additional 110,154 shares during the quarter. Picton Mahoney Asset Management owned about 0.07% of Corebridge Financial worth $8,955,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRBG. Charles Schwab Investment Management Inc. increased its position in shares of Corebridge Financial by 44.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,001,915 shares of the company's stock valued at $43,361,000 after acquiring an additional 619,341 shares during the period. Maryland State Retirement & Pension System purchased a new position in shares of Corebridge Financial in the fourth quarter worth about $385,000. Amalgamated Bank lifted its holdings in shares of Corebridge Financial by 60.6% during the fourth quarter. Amalgamated Bank now owns 48,050 shares of the company's stock worth $1,041,000 after purchasing an additional 18,137 shares during the period. Victory Capital Management Inc. boosted its position in Corebridge Financial by 66.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,464,923 shares of the company's stock valued at $31,730,000 after buying an additional 584,809 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Corebridge Financial in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRBG. Wells Fargo & Company upped their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, April 11th. Morgan Stanley lifted their price objective on Corebridge Financial from $26.00 to $28.00 and gave the company an "equal weight" rating in a research note on Monday, April 15th. UBS Group raised their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Finally, Evercore ISI raised their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Corebridge Financial Trading Up 2.8 %

Shares of NYSE CRBG traded up $0.82 during trading on Tuesday, hitting $30.04. 3,428,011 shares of the company were exchanged, compared to its average volume of 4,270,204. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a 12-month low of $16.13 and a 12-month high of $30.04. The company has a fifty day moving average price of $26.71 and a 200-day moving average price of $23.77. The firm has a market capitalization of $18.70 billion, a PE ratio of 7.90, a P/E/G ratio of 0.33 and a beta of 0.96.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.50 billion. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. During the same period in the previous year, the business posted $0.97 EPS. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.82 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, June 14th. Corebridge Financial's payout ratio is 24.21%.

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.

Want to see what other hedge funds are holding CRBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corebridge Financial, Inc. (NYSE:CRBG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.