Boulder Hill Capital Management LP Invests $1.06 Million in Corebridge Financial, Inc. (NYSE:CRBG)

Boulder Hill Capital Management LP purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBGFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 48,700 shares of the company’s stock, valued at approximately $1,055,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capstone Investment Advisors LLC acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at $4,440,000. Monashee Investment Management LLC acquired a new stake in Corebridge Financial in the 4th quarter valued at about $1,624,000. Treasurer of the State of North Carolina raised its stake in shares of Corebridge Financial by 61.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 104,744 shares of the company’s stock worth $2,269,000 after acquiring an additional 39,784 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Corebridge Financial by 113.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,658,492 shares of the company’s stock worth $35,923,000 after purchasing an additional 882,385 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Corebridge Financial by 36.4% during the fourth quarter. TD Asset Management Inc now owns 7,163,931 shares of the company’s stock valued at $155,171,000 after purchasing an additional 1,910,981 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRBG has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Corebridge Financial in a report on Friday, April 12th. Evercore ISI raised their target price on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Piper Sandler increased their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Get Our Latest Research Report on Corebridge Financial

Corebridge Financial Trading Down 1.6 %

CRBG stock traded down $0.47 during midday trading on Friday, hitting $29.17. 16,939,563 shares of the company’s stock were exchanged, compared to its average volume of 4,694,735. Corebridge Financial, Inc. has a one year low of $16.13 and a one year high of $34.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $17.84 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.32 and a beta of 0.96. The stock’s fifty day moving average price is $28.64 and its 200-day moving average price is $25.08.

Corebridge Financial (NYSE:CRBGGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a return on equity of 23.64% and a net margin of 11.25%. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the business posted $0.97 EPS. Research analysts predict that Corebridge Financial, Inc. will post 4.95 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.23 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.92 annualized dividend and a yield of 3.15%. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Corebridge Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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