Tudor Investment Corp ET AL Purchases 494,373 Shares of Corebridge Financial, Inc. $CRBG

Tudor Investment Corp ET AL boosted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 1,626.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 524,760 shares of the company’s stock after buying an additional 494,373 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.10% of Corebridge Financial worth $16,819,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Corebridge Financial during the second quarter valued at about $26,000. Community Bank N.A. bought a new position in shares of Corebridge Financial in the third quarter worth about $26,000. Smartleaf Asset Management LLC lifted its position in shares of Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Corebridge Financial during the 3rd quarter worth about $32,000. Finally, Assetmark Inc. boosted its stake in Corebridge Financial by 47.7% during the 3rd quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock valued at $45,000 after purchasing an additional 449 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $23.16 on Friday. The business has a fifty day simple moving average of $28.40 and a 200 day simple moving average of $30.26. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of -43.69, a PEG ratio of 0.36 and a beta of 1.11. Corebridge Financial, Inc. has a one year low of $22.32 and a one year high of $36.57.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $5.02 billion. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. During the same quarter in the previous year, the company earned $1.06 earnings per share. Sell-side analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.3%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is currently -188.68%.

Wall Street Analyst Weigh In

CRBG has been the topic of several recent analyst reports. Zacks Research raised Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. TD Cowen lowered their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Morgan Stanley dropped their target price on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. reduced their price target on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, January 5th. Finally, UBS Group dropped their price objective on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.09.

Corebridge Financial Company 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.