WINTON GROUP Ltd Makes New $793,000 Investment in Corebridge Financial, Inc. $CRBG

WINTON GROUP Ltd purchased a new position in Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 26,300 shares of the company’s stock, valued at approximately $793,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRBG. Norges Bank bought a new position in Corebridge Financial in the fourth quarter worth approximately $611,550,000. Pzena Investment Management LLC boosted its holdings in Corebridge Financial by 19.3% in the third quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock worth $715,651,000 after acquiring an additional 3,605,498 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Corebridge Financial in the third quarter worth approximately $69,738,000. Vanguard Group Inc. boosted its holdings in Corebridge Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after acquiring an additional 1,805,819 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Corebridge Financial by 16,388.6% in the third quarter. Marshall Wace LLP now owns 1,525,031 shares of the company’s stock worth $48,877,000 after acquiring an additional 1,515,782 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of CRBG opened at $27.25 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 0.30 and a beta of 1.14. The stock has a 50 day moving average of $26.46 and a 200 day moving average of $28.02. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Corebridge Financial, Inc. will post 4.89 earnings per share for the current year.

Corebridge Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

CRBG has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Mizuho increased their price target on Corebridge Financial from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods raised their target price on Corebridge Financial from $31.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Barclays dropped their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Finally, TD Cowen dropped their target price on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average 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.