Vestor Capital LLC Sells 46,400 Shares of Corebridge Financial, Inc. $CRBG

Vestor Capital LLC lessened its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 95.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,000 shares of the company’s stock after selling 46,400 shares during the quarter. Vestor Capital LLC’s holdings in Corebridge Financial were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. State of Michigan Retirement System purchased a new position in Corebridge Financial during the fourth quarter valued at $2,130,000. Yousif Capital Management LLC grew its holdings in Corebridge Financial by 873.3% during the fourth quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock valued at $2,591,000 after purchasing an additional 79,018 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Corebridge Financial in the fourth quarter worth about $5,358,000. Vanguard Group Inc. increased its position in Corebridge Financial by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after buying an additional 311,133 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Corebridge Financial in the fourth quarter worth about $2,072,000. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

NYSE:CRBG opened at $31.20 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The business’s 50-day simple moving average is $29.34 and its two-hundred day simple moving average is $27.97. The stock has a market cap of $13.91 billion, a PE ratio of 56.74, a P/E/G ratio of 0.39 and a beta of 1.10. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). The business had revenue of $4.08 billion during 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 in the previous year, the firm earned $1.16 earnings per share. As a group, analysts forecast that Corebridge Financial, Inc. will post 4.55 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. Corebridge Financial’s payout ratio is currently 181.82%.

Insiders Place Their Bets

In other Corebridge Financial news, insider David Ditillo sold 4,250 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $30.00, for a total value of $127,500.00. Following the completion of the transaction, the insider directly owned 128,153 shares in the company, valued at $3,844,590. This represents a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by insiders.

Analyst Ratings Changes

CRBG has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Mizuho increased their target price on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Piper Sandler raised their target price on shares of Corebridge Financial from $31.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and an average target price of $36.75.

Corebridge Financial Profile

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.