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

IFM Investors Pty Ltd acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 40,595 shares of the company’s stock, valued at approximately $1,166,000.

Several other institutional investors have also recently added to or reduced their stakes in CRBG. Riverview Trust Co acquired a new stake in shares of Corebridge Financial during the 1st quarter worth about $25,000. Mariner LLC boosted its position in Corebridge Financial by 4.3% during the third quarter. Mariner LLC now owns 33,647 shares of the company’s stock worth $665,000 after acquiring an additional 1,388 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Corebridge Financial during the third quarter worth approximately $28,000. Vestor Capital LLC purchased a new stake in Corebridge Financial in the 4th quarter worth approximately $43,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Corebridge Financial in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler upped their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. UBS Group raised their target price on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods upped their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Corebridge Financial in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.08.

Corebridge Financial Trading Up 0.3 %

Shares of CRBG stock traded up $0.07 during mid-day trading on Friday, reaching $26.75. The company’s stock had a trading volume of 2,412,243 shares, compared to its average volume of 3,591,461. The company’s 50 day simple moving average is $26.40 and its 200-day simple moving average is $23.49. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. Corebridge Financial, Inc. has a 12-month low of $14.91 and a 12-month high of $29.40. The firm has a market capitalization of $16.65 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.31 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating the consensus estimate 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 return on equity of 23.11% and a net margin of 5.92%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts predict that Corebridge Financial, Inc. will post 4.82 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

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

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.