Point72 Asset Management L.P. Has $13.12 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Point72 Asset Management L.P. decreased its position in Corebridge Financial, Inc. (NYSE:CRBG) by 21.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 438,460 shares of the company’s stock after selling 119,508 shares during the quarter. Point72 Asset Management L.P.’s holdings in Corebridge Financial were worth $13,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prana Capital Management LP boosted its stake in shares of Corebridge Financial by 546.3% in the 4th quarter. Prana Capital Management LP now owns 641,087 shares of the company’s stock valued at $19,188,000 after purchasing an additional 541,901 shares during the last quarter. Man Group plc lifted its holdings in Corebridge Financial by 15.5% in the fourth quarter. Man Group plc now owns 2,588,284 shares of the company’s stock valued at $77,467,000 after buying an additional 346,836 shares during the period. Nuveen Asset Management LLC boosted its stake in Corebridge Financial by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 3,137,964 shares of the company’s stock valued at $93,919,000 after acquiring an additional 20,637 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Corebridge Financial by 21.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 10,640 shares of the company’s stock worth $318,000 after acquiring an additional 1,914 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Corebridge Financial by 88.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company’s stock valued at $2,899,000 after acquiring an additional 45,363 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Stock Up 1.5%

Shares of CRBG stock opened at $32.79 on Monday. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $30.11 and a 200-day moving average of $31.15. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.43 and a beta of 1.01.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, equities research analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Monday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently 81.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRBG shares. Morgan Stanley reduced their price target on Corebridge Financial from $43.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Piper Sandler raised their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and cut their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets initiated coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and a consensus price target of $36.62.

Corebridge Financial Profile

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.