Boothbay Fund Management LLC Takes $3.37 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Boothbay Fund Management LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,712 shares of the company's stock, valued at approximately $3,373,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC raised its holdings in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Oarsman Capital Inc. purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $30,000. Finally, Blue Trust Inc. grew its position in Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after buying an additional 729 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CRBG. Piper Sandler increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods reduced their price target on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets began coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Trading Up 0.1 %

Corebridge Financial stock opened at $29.50 on Monday. The stock has a market cap of $16.30 billion, a P/E ratio of 7.80, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The firm's fifty day moving average price is $30.56 and its 200-day moving average price is $31.17. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released 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 return on equity of 22.69% and a net margin of 11.39%. Equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 3.25%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's dividend payout ratio is presently 25.40%.

About Corebridge Financial

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.

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