State of Wyoming Buys Shares of 31,407 Corebridge Financial, Inc. $CRBG

State of Wyoming bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,407 shares of the company’s stock, valued at approximately $899,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Salomon & Ludwin LLC raised its position in shares of Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after purchasing an additional 532 shares during the last quarter. Rothschild Investment LLC grew its holdings in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after buying an additional 520 shares during the last quarter. Sonoma Allocations LLC acquired a new stake in Corebridge Financial during the 1st quarter valued at $30,000. Versant Capital Management Inc increased its position in Corebridge Financial by 1,124.2% during the second quarter. Versant Capital Management Inc now owns 1,616 shares of the company’s stock worth $46,000 after buying an additional 1,484 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position in Corebridge Financial by 143.7% during the fourth quarter. Clearstead Advisors LLC now owns 1,667 shares of the company’s stock worth $50,000 after buying an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

NYSE CRBG opened at $34.48 on Friday. The firm has a market capitalization of $15.37 billion, a P/E ratio of 20.16, a P/E/G ratio of 0.44 and a beta of 1.08. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $35.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The business’s 50-day simple moving average is $30.66 and its 200-day simple moving average is $28.20.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Tuesday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.During the same quarter in the previous year, the business earned $1.36 EPS. Equities analysts predict that Corebridge Financial, Inc. will post 4.58 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, September 16th. Corebridge Financial’s payout ratio is currently 58.48%.

Insider Transactions at Corebridge Financial

In other news, insider David Ditillo sold 12,414 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $34.00, for a total value of $422,076.00. Following the completion of the sale, the insider owned 111,153 shares of the company’s stock, valued at $3,779,202. This represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several analyst reports. Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Barclays raised their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their price target on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group upped their price objective on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.17.

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.