Fieldview Capital Management LLC Invests $1.26 Million in Corebridge Financial, Inc. $CRBG

Fieldview Capital Management LLC purchased a new position in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 41,907 shares of the company’s stock, valued at approximately $1,264,000.

A number of other hedge funds have also modified their holdings of CRBG. Goldman Sachs Group Inc. increased its stake in shares of Corebridge Financial by 229.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after acquiring an additional 905,918 shares during the last quarter. Focus Partners Wealth acquired a new position in Corebridge Financial during the first quarter worth $384,000. Creative Planning acquired a new position in Corebridge Financial during the second quarter worth $243,000. EverSource Wealth Advisors LLC increased its position in Corebridge Financial by 58.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company’s stock worth $162,000 after buying an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Corebridge Financial by 64.4% during the second quarter. Cerity Partners LLC now owns 92,554 shares of the company’s stock worth $3,286,000 after buying an additional 36,239 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company increased their target price on shares of Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Bank of America lowered their target price on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. UBS Group lowered their target price on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 28th. Finally, Morgan Stanley lowered their target price on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Corebridge Financial Stock Up 0.1%

Shares of CRBG opened at $28.78 on Monday. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 52.32, a P/E/G ratio of 0.32 and a beta of 1.14. The company has a quick ratio of 0.12, a current 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 company has a 50-day moving average price of $26.64 and a two-hundred day moving average price of $28.02.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $5.06 billion. Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.During the same quarter in the prior year, the business earned $1.16 EPS. Equities analysts predict that Corebridge Financial, Inc. will post 4.81 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. Corebridge Financial’s dividend payout ratio (DPR) is currently 181.82%.

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.