Quantbot Technologies LP Has $2.70 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Quantbot Technologies LP lowered its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 72.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,068 shares of the company's stock after selling 236,410 shares during the quarter. Quantbot Technologies LP's holdings in Corebridge Financial were worth $2,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Corebridge Financial in the third quarter valued at about $27,000. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 729 shares during the period. Institutional investors and hedge funds own 98.25% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a research report on Monday, January 6th. TD Cowen upped their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Piper Sandler raised their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. BMO Capital Markets started coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.29.

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Corebridge Financial Trading Down 1.8 %

Corebridge Financial stock traded down $0.58 during mid-day trading on Thursday, hitting $32.21. The stock had a trading volume of 2,085,622 shares, compared to its average volume of 3,453,851. The stock has a 50-day simple moving average of $32.74 and a two-hundred day simple moving average of $31.16. 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 PE ratio of 8.52, a P/E/G ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a 12 month low of $23.97 and a 12 month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.23 EPS 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%. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.24 per share. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Monday, March 17th. 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.