Oarsman Capital Inc. Takes $30,000 Position in Corebridge Financial, Inc. (NYSE:CRBG)

Oarsman Capital Inc. bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,000 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRBG. Nippon Life Insurance Co. acquired a new stake in shares of Corebridge Financial during the fourth quarter worth $3,650,151,000. Vanguard Group Inc. boosted its stake in Corebridge Financial by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company’s stock worth $716,083,000 after buying an additional 711,857 shares during the last quarter. Norges Bank purchased a new stake in Corebridge Financial in the 4th quarter valued at about $283,212,000. State Street Corp increased its stake in shares of Corebridge Financial by 11.7% during 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 during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Corebridge Financial by 23.3% during the 4th quarter. Clearbridge Investments LLC now owns 5,305,120 shares of the company’s stock worth $158,782,000 after acquiring an additional 1,001,848 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Stock Performance

Corebridge Financial stock opened at $25.62 on Monday. 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’s fifty day moving average price is $32.48 and its 200 day moving average price is $31.35. The company has a market capitalization of $14.25 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-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 the consensus estimate 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 fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s payout ratio is 25.40%.

Analysts Set New Price Targets

Several equities analysts recently commented on CRBG shares. UBS Group lowered shares of Corebridge Financial from a “buy” rating to a “sell” rating and dropped their price target for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Wells Fargo & Company boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets started coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.