9,972 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Purchased by Perpetual Ltd

Perpetual Ltd purchased a new position in Corebridge Financial, Inc. (NYSE:CRBG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,972 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial during the third quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Corebridge Financial during the third quarter worth approximately $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Corebridge Financial during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

CRBG has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. DOWLING & PARTN cut shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their price target on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.43.

Insider Activity

In related news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.20, for a total value of $936,000,000.00. Following the sale, the insider now directly owns 249,238,898 shares of the company’s stock, valued at approximately $7,776,253,617.60. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by company insiders.

Corebridge Financial Price Performance

Shares of CRBG stock opened at $32.71 on Friday. Corebridge Financial, Inc. has a 12-month low of $23.01 and a 12-month high of $34.66. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 0.36 and a beta of 0.92. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $30.92 and a 200-day moving average of $29.77.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 39.5% on a year-over-year basis. On average, equities research analysts forecast that Corebridge Financial, Inc. will post 4.8 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Tuesday, December 17th. Corebridge Financial’s dividend payout ratio (DPR) is -44.02%.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.