VIRGINIA RETIREMENT SYSTEMS ET Al Sells 263,600 Shares of Corebridge Financial, Inc. $CRBG

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 37.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 441,900 shares of the company’s stock after selling 263,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Corebridge Financial worth $13,332,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRBG. Community Bank N.A. bought a new stake in shares of Corebridge Financial in the 3rd quarter worth approximately $26,000. 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 acquiring an additional 532 shares during the last quarter. 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 acquiring an additional 377 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 acquiring an additional 412 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Up 1.3%

Shares of NYSE CRBG opened at $26.44 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57. The firm has a market capitalization of $12.07 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 0.36 and a beta of 1.18. The firm has a fifty day simple moving average of $25.25 and a two-hundred day simple moving average of $28.45.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the company posted $1.16 earnings per share. Equities analysts expect that Corebridge Financial, Inc. will post 4.93 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.8%. Corebridge Financial’s dividend payout ratio is 181.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler upgraded shares of Corebridge Financial to a “strong-buy” rating in a report on Thursday, April 2nd. UBS Group lowered their price target on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Barclays lowered their price target on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. TD Cowen lowered their price target on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.92.

Corebridge Financial 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.