AXQ Capital LP Decreases Position in Corebridge Financial, Inc. (NYSE:CRBG)

AXQ Capital LP trimmed its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 70.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,139 shares of the company's stock after selling 26,008 shares during the period. AXQ Capital LP's holdings in Corebridge Financial were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Corebridge Financial by 25.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $49,000 after purchasing an additional 329 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after buying an additional 423 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Corebridge Financial by 3.1% during the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after acquiring an additional 660 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after acquiring an additional 729 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

CRBG has been the topic of a number of analyst reports. TD Cowen boosted their price objective on Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets began coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.29.

Corebridge Financial Price Performance

Shares of NYSE:CRBG traded down $0.58 during trading on Thursday, reaching $32.21. The company had a trading volume of 2,085,622 shares, compared to its average volume of 3,453,851. Corebridge Financial, Inc. has a 12 month low of $23.97 and a 12 month high of $35.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.91 billion, a P/E ratio of 8.52, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a fifty day moving average of $32.74 and a two-hundred day moving average of $31.16.

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 analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. Equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.24 dividend. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 2.98%. Corebridge Financial's payout ratio is presently 25.40%.

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.