Amalgamated Bank Has $461,000 Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Amalgamated Bank grew its position in Corebridge Financial, Inc. (NYSE:CRBG) by 14.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,387 shares of the company’s stock after buying an additional 1,896 shares during the period. Amalgamated Bank’s holdings in Corebridge Financial were worth $461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nippon Life Insurance Co. bought a new stake in Corebridge Financial in the 4th quarter valued at $3,650,151,000. Jacobs Levy Equity Management Inc. lifted its position in Corebridge Financial by 34.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,567,637 shares of the company’s stock valued at $104,032,000 after acquiring an additional 915,848 shares in the last quarter. State Street Corp lifted its position in Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after acquiring an additional 843,559 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Corebridge Financial by 69.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,584,707 shares of the company’s stock valued at $47,430,000 after acquiring an additional 649,718 shares in the last quarter. Finally, FMR LLC lifted its position in Corebridge Financial by 13.5% in the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock valued at $146,678,000 after acquiring an additional 598,373 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the 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 transaction, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. This represents a 48.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. DOWLING & PARTN cut shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised shares of 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 research report on Friday, January 10th. TD Cowen boosted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted 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. Finally, Piper Sandler boosted 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. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

Corebridge Financial Stock Down 6.3 %

Shares of CRBG opened at $32.06 on Wednesday. Corebridge Financial, Inc. has a 52 week low of $23.77 and a 52 week high of $35.36. The firm has a market cap of $17.82 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. The firm’s 50-day simple moving average is $32.19 and its 200 day simple moving average is $30.77. 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) 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%. On average, analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Corebridge Financial Company 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.