177,588 Shares in Corebridge Financial, Inc. $CRBG Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 177,588 shares of the company’s stock, valued at approximately $5,358,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Community Bank N.A. purchased a new position in shares of Corebridge Financial in the 3rd quarter worth about $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 412 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Corebridge Financial by 47.7% in the 3rd quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock worth $45,000 after buying an additional 449 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Trading Up 1.4%

Shares of CRBG opened at $26.97 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $25.91 and its 200-day moving average price is $28.14. The stock has a market cap of $12.32 billion, a PE ratio of 49.03, a P/E/G ratio of 0.29 and a beta of 1.18. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.During the same quarter last year, the company posted $1.16 earnings per share. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.89 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is 181.82%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRBG. Zacks Research downgraded shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. UBS Group cut their price target on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Morgan Stanley dropped their price objective on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. Finally, Bank of America dropped their price objective on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus price target of $35.17.

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.