Fieldview Capital Management LLC Invests $1.26 Million in Corebridge Financial, Inc. $CRBG

Fieldview Capital Management LLC acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 41,907 shares of the company’s stock, valued at approximately $1,264,000.

Other hedge funds also recently modified their holdings of the company. Community Bank N.A. acquired a new stake in shares of Corebridge Financial during the third quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after buying an additional 520 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Corebridge Financial by 50.2% during the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 412 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Price Performance

CRBG opened at $28.78 on Monday. The company has a fifty day moving average price of $26.64 and a two-hundred day moving average price of $28.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $36.57. The firm has a market capitalization of $13.14 billion, a PE ratio of 52.32, a P/E/G ratio of 0.32 and a beta of 1.14.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $1.16 EPS. As a group, analysts anticipate that Corebridge Financial, Inc. will post 4.81 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 16th. Corebridge Financial’s payout ratio is currently 181.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CRBG shares. Mizuho raised their price target on shares of Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. 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. Zacks Research lowered shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Piper Sandler lowered their price target on shares of Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, Bank of America lowered their price target on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average price target of $35.17.

About Corebridge Financial

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.