Troluce Capital Advisors LLC Takes Position in Corebridge Financial, Inc. $CRBG

Troluce Capital Advisors LLC purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,136,200 shares of the company’s stock, valued at approximately $27,110,000. Corebridge Financial comprises about 1.7% of Troluce Capital Advisors LLC’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Corebridge Financial by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock valued at $818,906,000 after purchasing an additional 311,133 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Corebridge Financial by 14.4% in the first quarter. Pzena Investment Management LLC now owns 27,045,794 shares of the company’s stock valued at $645,313,000 after buying an additional 3,413,384 shares during the period. Norges Bank acquired a new position in shares of Corebridge Financial in the fourth quarter valued at approximately $611,550,000. State Street Corp increased its position in shares of Corebridge Financial by 44.3% during the fourth quarter. State Street Corp now owns 11,295,692 shares of the company’s stock worth $340,791,000 after acquiring an additional 3,465,371 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Corebridge Financial by 43.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company’s stock worth $211,575,000 after acquiring an additional 2,689,611 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Down 0.0%

NYSE CRBG opened at $31.28 on Monday. The business has a fifty day moving average price of $28.90 and a two-hundred day moving average price of $27.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $36.57. The stock has a market capitalization of $13.95 billion, a PE ratio of 56.88, a PEG ratio of 0.39 and a beta of 1.10.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the business posted $1.16 EPS. Equities analysts expect that Corebridge Financial, Inc. will post 4.55 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. Corebridge Financial’s dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRBG shares. Weiss Ratings cut shares of Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Mizuho boosted their price objective on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Piper Sandler increased their target price on shares of Corebridge Financial from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Barclays lifted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Insider Buying and Selling

In other news, insider David Ditillo sold 4,250 shares of Corebridge Financial stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.00, for a total transaction of $127,500.00. Following the transaction, the insider owned 128,153 shares in the company, valued at approximately $3,844,590. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by corporate insiders.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.