Ieq Capital LLC Grows Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Ieq Capital LLC boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 311.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,541 shares of the company’s stock after purchasing an additional 34,467 shares during the quarter. Ieq Capital LLC’s holdings in Corebridge Financial were worth $1,363,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Raymond James & Associates boosted its holdings in Corebridge Financial by 36.6% in the third quarter. Raymond James & Associates now owns 206,251 shares of the company’s stock valued at $6,014,000 after purchasing an additional 55,292 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Corebridge Financial by 5.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 41,915 shares of the company’s stock valued at $1,222,000 after buying an additional 2,204 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Corebridge Financial by 142.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 112,254 shares of the company’s stock valued at $3,273,000 after buying an additional 65,958 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Corebridge Financial during the 3rd quarter worth $2,367,000. Finally, Nisa Investment Advisors LLC raised its stake in Corebridge Financial by 9,241.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 65,391 shares of the company’s stock worth $1,907,000 after acquiring an additional 64,691 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.2 %

Shares of CRBG stock opened at $32.63 on Tuesday. The business’s fifty day moving average price is $31.74 and its 200 day moving average price is $30.50. The firm has a market capitalization of $18.14 billion, a PE ratio of 8.63, a P/E/G ratio of 0.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 1-year low of $23.77 and a 1-year high of $34.66.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. Corebridge Financial’s payout ratio is 24.34%.

Insider Buying and Selling

In related news, major shareholder International Group American sold 121,956,256 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the sale, the insider now directly owns 127,282,642 shares in the company, valued at $4,005,584,743.74. The trade was a 48.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CRBG shares. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Piper Sandler raised their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Finally, Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.64.

About Corebridge Financial

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.