56,470 Shares in Corebridge Financial, Inc. $CRBG Bought by Havemeyer Place LP

Havemeyer Place LP bought a new position in Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, HoldingsChannel.com reports. The firm bought 56,470 shares of the company’s stock, valued at approximately $1,704,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its stake in Corebridge Financial by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock worth $331,000 after purchasing an additional 340 shares during the period. Severin Investments LLC boosted its stake in Corebridge Financial by 1.4% in the 3rd quarter. Severin Investments LLC now owns 24,778 shares of the company’s stock worth $794,000 after purchasing an additional 350 shares during the period. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 377 shares during the period. Integrated Wealth Concepts LLC boosted its stake in Corebridge Financial by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after purchasing an additional 383 shares during the period. Finally, True Wealth Design LLC boosted its stake in 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 purchasing an additional 412 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CRBG shares. Bank of America reduced their price objective on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Piper Sandler reduced their price objective on shares of Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods increased their price objective on shares of Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. UBS Group reduced their price objective on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Finally, Zacks Research downgraded shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Corebridge Financial Trading Up 1.8%

Shares of NYSE:CRBG opened at $26.90 on Friday. Corebridge Financial, Inc. has a 52-week low of $22.19 and a 52-week high of $36.57. The company has a market capitalization of $12.29 billion, a P/E ratio of 48.92, a price-to-earnings-growth ratio of 0.29 and a beta of 1.14. The company has a 50-day simple moving average of $26.21 and a 200 day simple moving average of $28.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12.

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

Corebridge Financial Announces Dividend

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

About Corebridge Financial

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.