Lighthouse Investment Partners LLC Buys Shares of 94,415 Corebridge Financial, Inc. (NYSE:CRBG)

Lighthouse Investment Partners LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBGFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 94,415 shares of the company’s stock, valued at approximately $2,045,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRBG. Vestor Capital LLC acquired a new position in Corebridge Financial in the fourth quarter valued at approximately $43,000. Headlands Technologies LLC acquired a new position in Corebridge Financial in the fourth quarter valued at approximately $65,000. Loomis Sayles & Co. L P boosted its stake in Corebridge Financial by 1,450.9% in the third quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company’s stock valued at $130,000 after acquiring an additional 6,152 shares during the period. CI Investments Inc. boosted its stake in Corebridge Financial by 7,879.8% in the third quarter. CI Investments Inc. now owns 9,097 shares of the company’s stock valued at $180,000 after acquiring an additional 8,983 shares during the period. Finally, Jackson Hole Capital Partners LLC bought a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $210,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $29.29 on Tuesday. Corebridge Financial, Inc. has a 12 month low of $16.13 and a 12 month high of $34.66. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.31 and a beta of 0.99. The stock’s 50 day moving average price is $28.73 and its 200 day moving average price is $25.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.05. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Corebridge Financial had a return on equity of 23.64% and a net margin of 11.25%. During the same quarter in the prior year, the company earned $0.97 earnings per share. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.95 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.23 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.14%. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a 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 report on Friday, April 12th. Wells Fargo & Company lifted their price target on Corebridge Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Piper Sandler lifted their price target on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.55.

View Our Latest Research Report on Corebridge Financial

About Corebridge Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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