Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,309 shares of the company's stock after selling 15,040 shares during the period. Asset Management One Co. Ltd.'s holdings in Corebridge Financial were worth $3,402,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRBG. Point72 Asia Singapore Pte. Ltd. bought a new stake in Corebridge Financial during the third quarter valued at about $27,000. Fortitude Family Office LLC bought a new stake in Corebridge Financial during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial during the fourth quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Corebridge Financial during the third quarter valued at about $28,000. Finally, HM Payson & Co. bought a new stake in Corebridge Financial during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Performance

CRBG stock traded down $0.78 during trading on Friday, hitting $32.72. 2,508,700 shares of the company traded hands, compared to its average volume of 2,975,522. The stock's 50-day simple moving average is $31.70 and its 200 day simple moving average is $30.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $18.19 billion, a PE ratio of 8.65, a P/E/G ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 1 year low of $23.77 and a 1 year high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.93%. Corebridge Financial's payout ratio is 24.34%.

Insider Activity

In related news, major shareholder International Group American sold 121,956,256 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

CRBG has been the subject of several recent analyst reports. TD Cowen raised their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets initiated coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target for the company. Piper Sandler raised their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a report on Monday, January 6th. Finally, DOWLING & PARTN downgraded Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.64.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.