Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 36.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,456 shares of the company’s stock after purchasing an additional 110,154 shares during the period. Picton Mahoney Asset Management’s holdings in Corebridge Financial were worth $8,955,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Corebridge Financial by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock worth $337,022,000 after purchasing an additional 1,566,275 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Corebridge Financial by 960.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,417,518 shares of the company’s stock worth $27,996,000 after acquiring an additional 1,283,901 shares during the period. Artemis Investment Management LLP acquired a new position in Corebridge Financial in the 4th quarter valued at $18,378,000. Victory Capital Management Inc. lifted its stake in shares of Corebridge Financial by 1,197.0% during the 3rd quarter. Victory Capital Management Inc. now owns 880,114 shares of the company’s stock worth $17,382,000 after purchasing an additional 812,257 shares during the period. Finally, Factory Mutual Insurance Co. acquired a new stake in shares of Corebridge Financial during the third quarter worth $13,805,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Trading Up 2.8 %

Shares of Corebridge Financial stock traded up $0.82 during trading hours on Tuesday, hitting $30.04. The company’s stock had a trading volume of 3,428,011 shares, compared to its average volume of 4,270,204. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $18.70 billion, a PE ratio of 7.90, a P/E/G ratio of 0.33 and a beta of 0.96. The business has a fifty day moving average of $26.71 and a 200 day moving average of $23.77. Corebridge Financial, Inc. has a 1-year low of $16.13 and a 1-year high of $30.04.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.05. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. During the same period in the prior year, the firm earned $0.97 EPS. As a group, equities analysts forecast that Corebridge Financial, Inc. will post 4.82 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, June 14th. Corebridge Financial’s dividend payout ratio (DPR) is presently 24.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler upped their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI increased their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. UBS Group increased their price target on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group boosted their price objective on shares of Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

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.