Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 5,600 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 16.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,600 shares of the company’s stock after purchasing an additional 5,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators grew its holdings in shares of Corebridge Financial by 34.4% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 3,991 shares of the company’s stock valued at $119,000 after purchasing an additional 1,022 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Corebridge Financial by 2.2% during the 4th quarter. Allianz Asset Management GmbH now owns 926,254 shares of the company’s stock worth $27,723,000 after acquiring an additional 19,855 shares during the last quarter. Ieq Capital LLC grew its holdings in Corebridge Financial by 311.2% during the 4th quarter. Ieq Capital LLC now owns 45,541 shares of the company’s stock worth $1,363,000 after acquiring an additional 34,467 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Corebridge Financial by 9.4% during the 4th quarter. New York State Common Retirement Fund now owns 159,882 shares of the company’s stock worth $4,785,000 after acquiring an additional 13,700 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Corebridge Financial during the 4th quarter worth approximately $316,000. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Up 1.2 %

Corebridge Financial stock opened at $32.90 on Thursday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 12-month low of $23.77 and a 12-month high of $34.66. The firm’s fifty day moving average is $31.87 and its 200 day moving average is $30.56. The company has a market capitalization of $18.29 billion, a PE ratio of 8.70, a PEG ratio of 0.43 and a beta of 0.94.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 2.92%. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the transaction, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRBG shares. Morgan Stanley boosted their target price on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen boosted their target price 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. Piper Sandler boosted their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.64.

Corebridge Financial 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.