PharVision Advisers LLC Purchases Shares of 8,962 Corebridge Financial, Inc. (NYSE:CRBG)

PharVision Advisers LLC purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,962 shares of the company’s stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRBG. Barclays PLC raised its position in Corebridge Financial by 20.0% during the third quarter. Barclays PLC now owns 358,035 shares of the company’s stock worth $10,441,000 after acquiring an additional 59,702 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Corebridge Financial by 3.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 116,389 shares of the company’s stock worth $3,484,000 after purchasing an additional 4,135 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Corebridge Financial by 52.2% in the 4th quarter. Park Avenue Securities LLC now owns 12,210 shares of the company’s stock valued at $365,000 after purchasing an additional 4,188 shares during the period. Perpetual Ltd acquired a new stake in Corebridge Financial in the 4th quarter valued at about $298,000. Finally, SG Americas Securities LLC grew its holdings in Corebridge Financial by 113.5% during the fourth quarter. SG Americas Securities LLC now owns 189,561 shares of the company’s stock worth $5,674,000 after purchasing an additional 100,778 shares during the period. Institutional investors own 98.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CRBG shares. Morgan Stanley upped their price objective on Corebridge Financial from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company increased 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, May 7th. UBS Group downgraded Corebridge Financial from a “buy” rating to a “sell” rating and cut their price target for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. Barclays upped their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Corebridge Financial Stock Down 3.4%

NYSE CRBG opened at $31.79 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.47 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.43 and a beta of 1.01. The company has a 50 day moving average of $30.19 and a 200-day moving average of $31.18. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same period in the previous year, the firm earned $1.10 EPS. On average, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is presently 81.36%.

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.