Eurizon Capital SGR S.p.A. Acquires Shares of 451,944 Corebridge Financial, Inc. $CRBG

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 451,944 shares of the company’s stock, valued at approximately $13,635,000.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of Nova Scotia raised its stake in Corebridge Financial by 3.8% during the second quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock valued at $331,000 after buying an additional 340 shares during the last quarter. Severin Investments LLC increased its holdings in shares of Corebridge Financial by 1.4% in the 3rd quarter. Severin Investments LLC now owns 24,778 shares of the company’s stock worth $794,000 after purchasing an additional 350 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Corebridge Financial by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after purchasing an additional 383 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Down 0.1%

Corebridge Financial stock opened at $26.97 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $36.57. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 0.29 and a beta of 1.14. The stock has a fifty day simple moving average of $25.91 and a two-hundred day simple moving average of $28.12.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the firm earned $1.16 EPS. Equities analysts predict that Corebridge Financial, Inc. will post 4.89 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. Corebridge Financial’s payout ratio is presently 181.82%.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group reduced their target price on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Barclays reduced their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their target price on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Morgan Stanley reduced their target price on Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings lowered Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Corebridge Financial Profile

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.