Cinctive Capital Management LP Sells 132,594 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Cinctive Capital Management LP lowered its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 34.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,264 shares of the company's stock after selling 132,594 shares during the quarter. Cinctive Capital Management LP's holdings in Corebridge Financial were worth $7,520,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRBG. Cerity Partners LLC increased its stake in shares of Corebridge Financial by 104.4% in the 3rd quarter. Cerity Partners LLC now owns 21,595 shares of the company's stock valued at $630,000 after acquiring an additional 11,029 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Corebridge Financial by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock worth $648,000 after purchasing an additional 732 shares during the period. FMR LLC increased its stake in Corebridge Financial by 13.5% in the third quarter. FMR LLC now owns 5,030,104 shares of the company's stock valued at $146,678,000 after purchasing an additional 598,373 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Corebridge Financial during the third quarter valued at about $359,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Corebridge Financial by 79.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,836 shares of the company's stock worth $1,628,000 after purchasing an additional 24,724 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

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Corebridge Financial Trading Down 3.1 %

Shares of NYSE CRBG traded down $0.80 during mid-day trading on Monday, hitting $24.91. The stock had a trading volume of 1,394,429 shares, compared to its average volume of 3,006,807. The business has a 50 day moving average price of $32.48 and a two-hundred day moving average price of $31.35. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $13.85 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its 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 return on equity of 22.69% and a net margin of 11.39%. On average, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.24 dividend. This is a positive change 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 3.85%. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is currently 25.40%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and upped their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. BMO Capital Markets assumed coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price objective for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. 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. Finally, Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Corebridge Financial has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.