Andra AP fonden Has $8.42 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Andra AP fonden grew its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 24.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 281,200 shares of the company’s stock after buying an additional 55,300 shares during the quarter. Andra AP fonden’s holdings in Corebridge Financial were worth $8,416,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRBG. Fortitude Family Office LLC acquired a new stake in Corebridge Financial in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its stake in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Corebridge Financial in the third quarter worth $27,000. Finally, Capital Performance Advisors LLP acquired a new position in Corebridge Financial during the third quarter worth $28,000. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $43.00 in a research note on Friday, February 28th. TD Cowen boosted their price target on 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 raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Stock Down 0.1 %

CRBG stock opened at $32.05 on Friday. The business’s fifty day moving average price is $32.33 and its two-hundred day moving average price is $30.84. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a fifty-two week low of $23.97 and a fifty-two week high of $35.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (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, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.00%. 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. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the transaction, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

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.