Voleon Capital Management LP Buys Shares of 18,974 Corebridge Financial, Inc. (NYSE:CRBG)

Voleon Capital Management LP purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,974 shares of the company’s stock, valued at approximately $568,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in Corebridge Financial by 25.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $49,000 after buying an additional 329 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Corebridge Financial by 58.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $27,000 after acquiring an additional 480 shares during the last quarter. Sanctuary Advisors LLC increased its position in Corebridge Financial by 3.1% during the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock worth $664,000 after purchasing an additional 660 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Corebridge Financial by 16.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,193 shares of the company’s stock valued at $155,000 after purchasing an additional 715 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CRBG. Barclays lowered their price target on shares of Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Piper Sandler increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on Corebridge Financial from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on Corebridge Financial from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.15.

Corebridge Financial Trading Up 1.1 %

Shares of CRBG stock opened at $29.96 on Friday. 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, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The firm’s 50 day moving average price is $30.31 and its two-hundred day moving average price is $31.15. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98.

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

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.24 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.20%. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

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.