Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by AXQ Capital LP

AXQ Capital LP decreased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 70.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,139 shares of the company’s stock after selling 26,008 shares during the period. AXQ Capital LP’s holdings in Corebridge Financial were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Corebridge Financial in the third quarter valued at $27,000. Fortitude Family Office LLC purchased a new position in shares of Corebridge Financial in the fourth quarter valued at $27,000. FNY Investment Advisers LLC purchased a new position in shares of Corebridge Financial in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC boosted its stake in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after purchasing an additional 480 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock valued at $33,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CRBG shares. 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. Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. TD Cowen increased their price objective 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. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.29.

Corebridge Financial Stock Down 0.4 %

CRBG stock opened at $32.36 on Monday. 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 $23.97 and a fifty-two week high of $35.36. The firm’s 50-day simple moving average is $32.56 and its 200 day simple moving average is $31.06. The stock has a market cap of $17.99 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Monday, March 17th. This is a boost 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.