Corebridge Financial, Inc. $CRBG Stock Position Reduced by Qsemble Capital Management LP

Qsemble Capital Management LP lessened its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,567 shares of the company’s stock after selling 54,426 shares during the period. Qsemble Capital Management LP’s holdings in Corebridge Financial were worth $4,935,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CRBG. Community Bank N.A. bought a new stake in shares of Corebridge Financial in the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after purchasing an additional 532 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Corebridge Financial in the 3rd quarter worth approximately $32,000. Finally, True Wealth Design LLC lifted its holdings in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRBG. Bank of America cut their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Barclays cut their price target on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. UBS Group lowered their target price on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their target price on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Mizuho raised their target price on Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.92.

Corebridge Financial Stock Down 0.3%

CRBG opened at $27.57 on Friday. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $12.59 billion, a P/E ratio of 50.12, a P/E/G ratio of 0.30 and a beta of 1.18. The stock’s 50 day moving average price is $25.32 and its 200 day moving average price is $28.42.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business posted $1.16 earnings per share. As a group, research analysts predict that Corebridge Financial, Inc. will post 4.9 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Corebridge Financial’s dividend payout ratio (DPR) is 181.82%.

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.