Corebridge Financial, Inc. $CRBG Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in Corebridge Financial, Inc. (NYSE:CRBG) by 7.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 261,647 shares of the company’s stock after selling 20,741 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corebridge Financial were worth $8,386,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its holdings in Corebridge Financial by 4.7% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 26,024 shares of the company’s stock worth $834,000 after purchasing an additional 1,162 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in Corebridge Financial during the 3rd quarter worth approximately $560,000. Root Financial Partners LLC purchased a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $32,000. Allstate Corp acquired a new stake in shares of Corebridge Financial in the 3rd quarter valued at approximately $360,000. Finally, Amalgamated Bank boosted its stake in shares of Corebridge Financial by 5.4% in the third quarter. Amalgamated Bank now owns 12,982 shares of the company’s stock valued at $416,000 after buying an additional 667 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Trading Up 0.6%

NYSE:CRBG opened at $30.40 on Thursday. The company has a market capitalization of $15.82 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The stock has a fifty day simple moving average of $30.32 and a 200-day simple moving average of $32.01. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.12). Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the business posted $1.23 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.96 dividend on an annualized basis and a yield of 3.2%. Corebridge Financial’s dividend payout ratio is presently 57.14%.

Analyst Ratings Changes

Several research analysts have issued reports on CRBG shares. Keefe, Bruyette & Woods cut their price objective on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price target (down from $39.00) on shares of Corebridge Financial in a research note on Monday, November 17th. Mizuho initiated coverage on shares of Corebridge Financial in a report on Tuesday, December 16th. They issued an “outperform” rating and a $38.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Finally, UBS Group dropped their target price on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.70.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.