Rhumbline Advisers Acquires 33,613 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Rhumbline Advisers lifted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 306,137 shares of the company’s stock after buying an additional 33,613 shares during the period. Rhumbline Advisers owned approximately 0.05% of Corebridge Financial worth $9,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Corebridge Financial during the 3rd quarter valued at $27,000. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the fourth quarter valued at about $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial during the fourth quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in Corebridge Financial during the third quarter worth about $28,000. Finally, HM Payson & Co. acquired a new stake in Corebridge Financial during the third quarter worth about $29,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. TD Cowen raised their target price on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.64.

Corebridge Financial Stock Down 0.2 %

Shares of NYSE CRBG opened at $32.63 on Tuesday. Corebridge Financial, Inc. has a 1 year low of $23.77 and a 1 year high of $34.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $18.14 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. The company has a 50 day simple moving average of $31.74 and a 200 day simple moving average of $30.50.

Corebridge Financial (NYSE:CRBG) last issued 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 return on equity of 22.69% and a net margin of 11.39%. On average, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business 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 is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. Corebridge Financial’s dividend payout ratio is presently 24.34%.

Insider Transactions at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.