Interval Partners LP Has $12.34 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Interval Partners LP trimmed its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,324 shares of the company’s stock after selling 141,726 shares during the quarter. Interval Partners LP owned about 0.07% of Corebridge Financial worth $12,341,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CRBG. New York Life Investment Management LLC acquired a new position in Corebridge Financial in the 4th quarter valued at about $781,000. Raymond James Financial Inc. bought a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $31,844,000. Barclays PLC grew its position in shares of Corebridge Financial by 20.0% in the third quarter. Barclays PLC now owns 358,035 shares of the company’s stock valued at $10,441,000 after purchasing an additional 59,702 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Corebridge Financial by 4.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company’s stock worth $15,093,000 after purchasing an additional 20,783 shares during the period. Finally, KBC Group NV lifted its holdings in Corebridge Financial by 77.9% during the 4th quarter. KBC Group NV now owns 1,222,448 shares of the company’s stock worth $36,588,000 after purchasing an additional 535,323 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $31.17 on Friday. The stock’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $31.14. The firm has a market capitalization of $17.15 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. 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 (NYSE:CRBG) last posted its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.24 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 3.08%. Corebridge Financial’s dividend payout ratio is presently 81.36%.

Analysts Set New Price Targets

Several research firms have weighed in on CRBG. Morgan Stanley lowered their price objective on Corebridge Financial from $43.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets began coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. UBS Group cut shares of Corebridge Financial from a “buy” rating to a “sell” rating and lowered their target price for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.62.

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.