Corebridge Financial, Inc. $CRBG Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 36.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 110,659 shares of the company’s stock after purchasing an additional 29,650 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $2,640,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Corebridge Financial in the fourth quarter worth about $611,550,000. State Street Corp lifted its stake in shares of Corebridge Financial by 44.3% in the fourth quarter. State Street Corp now owns 11,295,692 shares of the company’s stock worth $340,791,000 after buying an additional 3,465,371 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Corebridge Financial by 14.4% in the first quarter. Pzena Investment Management LLC now owns 27,045,794 shares of the company’s stock worth $645,313,000 after buying an additional 3,413,384 shares in the last quarter. AQR Capital Management LLC lifted its stake in Corebridge Financial by 91.5% in the 4th quarter. AQR Capital Management LLC now owns 5,911,164 shares of the company’s stock worth $178,340,000 after purchasing an additional 2,823,801 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Corebridge Financial by 227.7% during the 4th quarter. Amundi now owns 3,551,944 shares of the company’s stock worth $107,162,000 after purchasing an additional 2,467,981 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. TD Cowen lowered their price objective on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. UBS Group dropped 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. Finally, Piper Sandler cut their target price on Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.36.

Corebridge Financial Trading Up 3.6%

NYSE CRBG opened at $30.84 on Tuesday. The firm has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $27.87. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 6.48, a PEG ratio of 0.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57.

Corebridge Financial (NYSE:CRBG) last released 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). The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.16 earnings per share. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.75 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is currently 181.82%.

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.