Corebridge Financial, Inc. $CRBG Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 14.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,282 shares of the company’s stock after selling 20,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Corebridge Financial were worth $3,887,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRBG. IFP Advisors Inc grew its position in shares of Corebridge Financial by 1,223.6% during the second quarter. IFP Advisors Inc now owns 728 shares of the company’s stock worth $26,000 after buying an additional 673 shares in the last quarter. Allworth Financial LP purchased a new position in Corebridge Financial in the second quarter worth approximately $26,000. Assetmark Inc. grew its holdings in Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock worth $33,000 after acquiring an additional 356 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Corebridge Financial in the 3rd quarter valued at approximately $32,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Corebridge Financial by 86.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock valued at $46,000 after purchasing an additional 603 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

CRBG has been the topic of several recent analyst reports. Mizuho assumed coverage on Corebridge Financial in a report on Tuesday, December 16th. They issued an “outperform” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. Wells Fargo & Company cut their target price on Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Evercore lowered their price target on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Corebridge Financial has a consensus rating of “Hold” and an average target price of $37.70.

Corebridge Financial Trading Up 4.7%

NYSE:CRBG opened at $31.19 on Friday. The company has a market capitalization of $16.23 billion, a PE ratio of 18.57, a P/E/G ratio of 0.42 and a beta of 1.04. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The stock’s 50 day moving average price is $30.55 and its 200 day moving average price is $31.83. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77.

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.