Los Angeles Capital Management LLC Has $7.88 Million Stock Position in Corebridge Financial, Inc. $CRBG

Los Angeles Capital Management LLC decreased its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,239 shares of the company’s stock after selling 83,012 shares during the period. Los Angeles Capital Management LLC’s holdings in Corebridge Financial were worth $7,882,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Corebridge Financial by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after buying an additional 311,133 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Corebridge Financial by 5.8% during the fourth quarter. Pzena Investment Management LLC now owns 23,632,410 shares of the company’s stock worth $712,990,000 after buying an additional 1,303,211 shares in the last quarter. Norges Bank acquired a new stake in Corebridge Financial during the fourth quarter worth $611,550,000. Dimensional Fund Advisors LP boosted its stake in Corebridge Financial by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock worth $214,372,000 after buying an additional 430,308 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Corebridge Financial by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 5,139,404 shares of the company’s stock worth $154,607,000 after buying an additional 490,003 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

CRBG has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. TD Cowen decreased their price target 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. Zacks Research downgraded shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Piper Sandler decreased their price target on shares of Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.17.

Corebridge Financial Stock Up 1.0%

Shares of NYSE CRBG opened at $27.14 on Tuesday. The stock has a market cap of $12.40 billion, a PE ratio of 49.34, a PEG ratio of 0.29 and a beta of 1.14. The business has a fifty day moving average of $26.27 and a two-hundred day moving average of $28.02. Corebridge Financial, Inc. has a 52-week low of $22.19 and a 52-week high of $36.57. 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 quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $5.06 billion. Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.89 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Corebridge Financial’s dividend payout ratio (DPR) is presently 181.82%.

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.