IFM Investors Pty Ltd Invests $1.17 Million in Corebridge Financial, Inc. (NYSE:CRBG)

IFM Investors Pty Ltd purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,595 shares of the company’s stock, valued at approximately $1,166,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Corebridge Financial in the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Corebridge Financial in the third quarter valued at about $28,000. Vestor Capital LLC acquired a new stake in Corebridge Financial during the fourth quarter worth about $43,000. Cullen Frost Bankers Inc. purchased a new position in Corebridge Financial during the third quarter worth about $55,000. Finally, Headlands Technologies LLC purchased a new position in Corebridge Financial during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Morgan Stanley lifted their target price on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group upped their target price on shares of Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.08.

Corebridge Financial Stock Up 0.3 %

Shares of CRBG traded up $0.07 during mid-day trading on Friday, hitting $26.75. 2,412,243 shares of the company’s stock were exchanged, compared to its average volume of 3,591,461. The stock’s 50-day moving average is $26.40 and its 200-day moving average is $23.49. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $29.40. The company has a market cap of $16.65 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.31 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.65 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.82 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.44%. Corebridge Financial’s payout ratio is 54.44%.

About Corebridge Financial

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.