Artemis Investment Management LLP Has $56.82 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Artemis Investment Management LLP boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 21.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,898,551 shares of the company’s stock after buying an additional 335,532 shares during the period. Artemis Investment Management LLP’s holdings in Corebridge Financial were worth $56,824,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CRBG. Fortitude Family Office LLC bought a new stake in Corebridge Financial during the fourth quarter worth about $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial during the 4th quarter worth approximately $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Corebridge Financial during the 3rd quarter valued at $27,000. Capital Performance Advisors LLP bought a new position in Corebridge Financial in the 3rd quarter valued at $28,000. Finally, HM Payson & Co. bought a new position in Corebridge Financial in the 3rd quarter valued at $29,000. 98.25% of the stock is currently owned by institutional investors.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $31.20, for a total value of $936,000,000.00. Following the completion of the sale, the insider now directly owns 249,238,898 shares in the company, valued at $7,776,253,617.60. This represents a 10.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.08% of the company’s stock.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock opened at $31.99 on Friday. The business has a fifty day simple moving average of $30.84 and a 200 day simple moving average of $29.70. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. Corebridge Financial, Inc. has a 12 month low of $23.01 and a 12 month high of $34.66.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 EPS. Sell-side analysts predict that Corebridge Financial, Inc. will post 4.83 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 2.88%. Corebridge Financial’s dividend payout ratio (DPR) is presently -44.02%.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of research reports. DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research report on Monday, January 6th. Finally, Piper Sandler increased their price objective on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.92.

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.