Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.23 Million Position in Corebridge Financial, Inc. $CRBG

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 55.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,909 shares of the company’s stock after acquiring an additional 35,809 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $3,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRBG. Pzena Investment Management LLC raised its holdings in shares of Corebridge Financial by 132.6% during the second quarter. Pzena Investment Management LLC now owns 18,723,701 shares of the company’s stock valued at $664,691,000 after purchasing an additional 10,673,099 shares during the period. Norges Bank bought a new stake in Corebridge Financial in the 2nd quarter valued at about $145,632,000. Goldman Sachs Group Inc. raised its stake in Corebridge Financial by 229.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after buying an additional 905,918 shares during the period. Bank of America Corp DE boosted its holdings in Corebridge Financial by 42.8% in the second quarter. Bank of America Corp DE now owns 2,884,599 shares of the company’s stock worth $102,403,000 after acquiring an additional 864,946 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Corebridge Financial by 113.7% in the second quarter. Russell Investments Group Ltd. now owns 1,272,797 shares of the company’s stock valued at $45,195,000 after acquiring an additional 677,111 shares during the period. 98.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho began coverage on Corebridge Financial in a research report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Barclays decreased their target price on shares of Corebridge Financial from $39.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $33.00 price target (down previously from $39.00) on shares of Corebridge Financial in a research report on Monday, November 17th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.70.

Corebridge Financial Trading Up 0.3%

Shares of CRBG stock opened at $30.55 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.44 and a beta of 1.04. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The company has a 50-day simple moving average of $30.14 and a two-hundred day simple moving average of $32.26.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.Corebridge Financial’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 EPS. Research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, December 17th. Corebridge Financial’s dividend payout ratio is 57.14%.

About Corebridge Financial

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.