Sanctuary Advisors LLC Has $664,000 Position in Corebridge Financial, Inc. (NYSE:CRBG)

Sanctuary Advisors LLC raised its position in Corebridge Financial, Inc. (NYSE:CRBG) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,182 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Sanctuary Advisors LLC’s holdings in Corebridge Financial were worth $664,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth about $27,000. Fortitude Family Office LLC acquired a new stake in shares of Corebridge Financial during the 4th quarter worth about $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial during the 4th quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth about $28,000. Finally, HM Payson & Co. acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research note on Monday, January 6th. DOWLING & PARTN cut shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Morgan Stanley raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $43.00 in a research report on Friday. Piper Sandler raised their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial has an average rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Price Performance

CRBG stock opened at $34.71 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 12 month low of $23.77 and a 12 month high of $34.84. The firm has a market cap of $19.30 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.43 and a beta of 0.94. The company’s 50-day moving average price is $32.06 and its two-hundred day moving average price is $30.64.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. Corebridge Financial’s payout ratio is 25.40%.

Insider Activity at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction 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. The trade was a 48.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

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.