Corebridge Financial, Inc. $CRBG Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 19.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 81,009 shares of the company’s stock after selling 19,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $2,444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRBG. Community Bank N.A. purchased a new stake in shares of Corebridge Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC lifted its stake in Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after buying an additional 532 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the last quarter. Rothschild Investment LLC increased its stake in Corebridge Financial by 133.3% during the 4th 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 raised 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 valued at $37,000 after acquiring an additional 412 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America lowered their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company increased their price objective on Corebridge Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. TD Cowen lowered their target price on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, UBS Group reduced their price objective on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.17.

Corebridge Financial Trading Up 1.8%

Shares of NYSE CRBG opened at $27.62 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $12.62 billion, a PE ratio of 50.22, a PEG ratio of 0.29 and a beta of 1.14. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57. The stock has a fifty day simple moving average of $26.37 and a 200-day simple moving average of $28.02.

Corebridge Financial (NYSE:CRBG) last announced 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). The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. During the same quarter last year, the business earned $1.16 earnings per share. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.89 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. Corebridge Financial’s dividend payout ratio (DPR) is presently 181.82%.

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.