Oarsman Capital Inc. Invests $30,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Oarsman Capital Inc. bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,000 shares of the company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after buying an additional 480 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Corebridge Financial in the 4th quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Corebridge Financial during the 3rd quarter valued at approximately $27,000. Finally, Blue Trust Inc. lifted its position in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CRBG shares. Morgan Stanley upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $43.00 in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research note on Monday, January 6th. BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Corebridge Financial Stock Down 10.5 %

CRBG opened at $25.62 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a one year low of $23.97 and a one year high of $35.36. The business’s fifty day moving average is $32.48 and its two-hundred day moving average is $31.35.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

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.