Corebridge Financial Inc. Has $234,000 Holdings in Arrow Financial Co. (NASDAQ:AROW)

Corebridge Financial Inc. decreased its position in Arrow Financial Co. (NASDAQ:AROW) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,164 shares of the financial services provider’s stock after selling 616 shares during the period. Corebridge Financial Inc.’s holdings in Arrow Financial were worth $234,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AROW. BNP Paribas Financial Markets boosted its position in shares of Arrow Financial by 13.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,449 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 398 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Arrow Financial by 18.5% during the 4th quarter. SG Americas Securities LLC now owns 6,765 shares of the financial services provider’s stock valued at $194,000 after acquiring an additional 1,056 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in Arrow Financial in the fourth quarter worth $319,000. JPMorgan Chase & Co. raised its holdings in shares of Arrow Financial by 137.8% during the third quarter. JPMorgan Chase & Co. now owns 18,702 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 10,838 shares during the period. Finally, Atria Investments Inc grew its stake in shares of Arrow Financial by 17.3% in the 4th quarter. Atria Investments Inc now owns 19,768 shares of the financial services provider’s stock valued at $568,000 after buying an additional 2,912 shares during the period. Institutional investors own 46.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond F. O’conor sold 2,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.28, for a total transaction of $50,560.00. Following the sale, the director now directly owns 35,022 shares in the company, valued at $885,356.16. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel James White bought 3,668 shares of the stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $27.23 per share, for a total transaction of $99,879.64. Following the completion of the purchase, the director now directly owns 4,338 shares in the company, valued at approximately $118,123.74. This represents a 547.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 6,000 shares of company stock worth $156,240 over the last quarter. 3.55% of the stock is currently owned by company insiders.

Arrow Financial Price Performance

Arrow Financial stock opened at $24.13 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.06. The stock has a market cap of $403.41 million, a P/E ratio of 13.63 and a beta of 0.71. The company’s 50 day moving average price is $26.16 and its two-hundred day moving average price is $28.36. Arrow Financial Co. has a 52 week low of $21.50 and a 52 week high of $34.63.

Arrow Financial (NASDAQ:AROW) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.12). Arrow Financial had a return on equity of 8.59% and a net margin of 13.32%. On average, equities analysts predict that Arrow Financial Co. will post 2.65 earnings per share for the current year.

Arrow Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were paid a $0.28 dividend. This is a boost from Arrow Financial’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Monday, February 10th. Arrow Financial’s payout ratio is currently 63.28%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AROW shares. Piper Sandler lowered their target price on Arrow Financial from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Hovde Group dropped their target price on Arrow Financial from $34.50 to $32.00 and set a “market perform” rating on the stock in a report on Friday, December 27th.

About Arrow Financial

Arrow Financial Corporation, a bank holding company, provides commercial and consumer banking, and financial products and services. The company’s deposit products include demand deposits, interest-bearing checking accounts, savings deposits, time deposits, and other time deposits. Its lending activities comprise commercial loans, such as term loans, time notes, and lines of credit; and commercial real estate loans to finance real estate purchases, refinancing, expansions, and enhancement to commercial properties, as well as commercial construction and land development loans to finance projects.