Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by AXQ Capital LP

AXQ Capital LP decreased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 70.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,139 shares of the company’s stock after selling 26,008 shares during the period. AXQ Capital LP’s holdings in Corebridge Financial were worth $333,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nippon Life Insurance Co. bought a new position in shares of Corebridge Financial during the 4th quarter valued at about $3,650,151,000. State Street Corp boosted its holdings in shares of Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after buying an additional 843,559 shares during the period. FMR LLC boosted its holdings in shares of Corebridge Financial by 13.5% in the third quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after buying an additional 598,373 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Corebridge Financial by 222.9% in the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after buying an additional 3,202,145 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Corebridge Financial by 5.4% in the third quarter. Geode Capital Management LLC now owns 4,186,265 shares of the company’s stock worth $121,765,000 after buying an additional 215,362 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. 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 report on Wednesday, December 18th. 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 report on Wednesday, February 19th. Finally, Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a report on Monday, January 6th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

Corebridge Financial Price Performance

Shares of CRBG opened at $32.36 on Monday. The firm has a market cap of $17.99 billion, a PE ratio of 8.56, a PEG ratio of 0.43 and a beta of 0.92. The firm’s 50 day moving average price is $32.56 and its 200 day moving average price is $31.06. 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, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG) last released 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, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS 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 given a $0.24 dividend. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. Corebridge Financial’s dividend payout ratio (DPR) is currently 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.