Prana Capital Management LP Has $19.19 Million Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Prana Capital Management LP lifted its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 546.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 641,087 shares of the company's stock after buying an additional 541,901 shares during the period. Prana Capital Management LP owned about 0.11% of Corebridge Financial worth $19,188,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. New York Life Investment Management LLC bought a new position in Corebridge Financial during the 4th quarter worth about $781,000. Raymond James Financial Inc. bought a new position in Corebridge Financial during the 4th quarter worth about $31,844,000. Barclays PLC increased its holdings in Corebridge Financial by 20.0% during the 3rd quarter. Barclays PLC now owns 358,035 shares of the company's stock worth $10,441,000 after purchasing an additional 59,702 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Corebridge Financial by 4.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company's stock worth $15,093,000 after purchasing an additional 20,783 shares in the last quarter. Finally, KBC Group NV increased its holdings in Corebridge Financial by 77.9% during the 4th quarter. KBC Group NV now owns 1,222,448 shares of the company's stock worth $36,588,000 after purchasing an additional 535,323 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Performance

NYSE:CRBG traded up $0.49 during mid-day trading on Friday, hitting $32.79. The stock had a trading volume of 3,036,911 shares, compared to its average volume of 3,411,856. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 0.43 and a beta of 1.01. The company's 50 day simple moving average is $30.11 and its 200 day simple moving average is $31.16. 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 (NYSE:CRBG - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the business posted $1.10 EPS. On average, equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 2.93%. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of research reports. Piper Sandler increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Barclays increased their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.62.

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.