Entropy Technologies LP Acquires 108,190 Shares of Corebridge Financial, Inc. $CRBG

Entropy Technologies LP lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 203.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,459 shares of the company’s stock after purchasing an additional 108,190 shares during the period. Entropy Technologies LP’s holdings in Corebridge Financial were worth $4,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. Vanguard Group Inc. boosted its holdings in Corebridge Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after acquiring an additional 1,805,819 shares in the last quarter. State of Michigan Retirement System bought a new position in Corebridge Financial in the fourth quarter worth approximately $2,130,000. Dimensional Fund Advisors LP boosted its holdings in Corebridge Financial by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock worth $214,372,000 after acquiring an additional 430,308 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Corebridge Financial by 19.3% in the third quarter. Russell Investments Group Ltd. now owns 1,518,492 shares of the company’s stock worth $48,712,000 after acquiring an additional 245,695 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Corebridge Financial by 873.3% in the fourth quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock worth $2,591,000 after acquiring an additional 79,018 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Up 0.1%

CRBG stock opened at $28.78 on Monday. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock’s 50 day moving average is $26.64 and its 200-day moving average is $28.02. The firm has a market capitalization of $13.14 billion, a PE ratio of 52.32, a P/E/G ratio of 0.32 and a beta of 1.14.

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

Corebridge Financial Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on CRBG. Bank of America cut their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Barclays cut their price target on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Finally, UBS Group cut their price target on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.17.

Corebridge Financial Company 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.