Tower Research Capital LLC TRC Has $159,000 Position in Corebridge Financial, Inc. (NYSE:CRBG)

Tower Research Capital LLC TRC decreased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 77.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,306 shares of the company's stock after selling 17,882 shares during the period. Tower Research Capital LLC TRC's holdings in Corebridge Financial were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CRBG. Fortitude Family Office LLC purchased a new position in Corebridge Financial in the 4th quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new position in shares of Corebridge Financial in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its stake 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 worth $27,000 after acquiring an additional 480 shares during the last quarter. Oarsman Capital Inc. purchased a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $30,000. Finally, Blue Trust Inc. raised its stake 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 purchasing an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CRBG shares. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays lifted their price target 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. Piper Sandler increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Morgan Stanley cut their target price on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, BMO Capital Markets started coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. One research 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 MarketBeat.com, Corebridge Financial currently has an average rating of "Moderate Buy" and an average price target of $36.62.

Corebridge Financial Trading Up 5.0%

Shares of NYSE CRBG traded up $1.57 during midday trading on Monday, reaching $32.71. 281,552 shares of the stock were exchanged, compared to its average volume of 3,481,007. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36. The business has a 50-day simple moving average of $30.04 and a two-hundred day simple moving average of $31.13. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 0.43 and a beta of 1.01.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.01. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same quarter last year, the firm posted $1.10 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio is 81.36%.

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.