Asset Management One Co. Ltd. Sells 15,040 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Asset Management One Co. Ltd. decreased its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,309 shares of the company’s stock after selling 15,040 shares during the period. Asset Management One Co. Ltd.’s holdings in Corebridge Financial were worth $3,402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Corebridge Financial during the third quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of Corebridge Financial during the third quarter worth approximately $28,000. Finally, HM Payson & Co. bought a new position in shares of Corebridge Financial during the third quarter worth approximately $29,000. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the topic of a number of recent research reports. Piper Sandler increased their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research report on Monday, January 6th. TD Cowen increased their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.64.

Corebridge Financial Stock Down 0.8 %

Shares of CRBG opened at $33.57 on Thursday. Corebridge Financial, Inc. has a 52 week low of $23.77 and a 52 week high of $34.66. The stock has a market capitalization of $18.66 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.42 and a beta of 0.94. 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 stock has a fifty day moving average of $31.60 and a 200-day moving average of $30.30.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.47 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial’s dividend payout ratio is presently 24.34%.

Insider Activity

In related news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, the insider now directly owns 127,282,642 shares of the company’s stock, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

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.