Vestor Capital LLC Takes Position in Corebridge Financial, Inc. (NYSE:CRBG)

Vestor Capital LLC acquired a new position in Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Corebridge Financial in the 3rd quarter worth $28,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Corebridge Financial in the 3rd quarter worth $55,000. Headlands Technologies LLC acquired a new stake in shares of Corebridge Financial in the 4th quarter worth $65,000. Loomis Sayles & Co. L P lifted its position in Corebridge Financial by 1,450.9% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company’s stock worth $130,000 after acquiring an additional 6,152 shares during the period. Finally, CI Investments Inc. lifted its position in Corebridge Financial by 7,879.8% during the 3rd quarter. CI Investments Inc. now owns 9,097 shares of the company’s stock worth $180,000 after acquiring an additional 8,983 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG traded down $0.57 during trading on Thursday, reaching $30.25. 3,517,762 shares of the company traded hands, compared to its average volume of 4,269,254. The firm’s fifty day simple moving average is $26.94 and its 200 day simple moving average is $23.89. The stock has a market cap of $18.83 billion, a P/E ratio of 7.97, a PEG ratio of 0.33 and a beta of 0.96. Corebridge Financial, Inc. has a 12-month low of $16.13 and a 12-month high of $30.98. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, research analysts anticipate that Corebridge Financial, Inc. will post 4.82 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.04%. Corebridge Financial’s dividend payout ratio is presently 24.21%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley lifted their price target on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Corebridge Financial in a research report on Friday, April 12th. Evercore ISI lifted their price target on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Piper Sandler lifted their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.