Vinva Investment Management Ltd Sells 73,611 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Vinva Investment Management Ltd trimmed its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 71.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,982 shares of the company's stock after selling 73,611 shares during the period. Vinva Investment Management Ltd's holdings in Corebridge Financial were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial during the third quarter worth $27,000. Fortitude Family Office LLC bought a new position in Corebridge Financial during the 4th quarter worth about $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC lifted 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 in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after buying an additional 729 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Performance

Shares of CRBG traded up $0.28 during mid-day trading on Tuesday, reaching $33.31. The company's stock had a trading volume of 1,704,646 shares, compared to its average volume of 3,489,711. 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 cap of $18.52 billion, a P/E ratio of 8.81, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a 1-year low of $23.97 and a 1-year high of $35.36. The business has a 50-day simple moving average of $32.63 and a two-hundred day simple moving average of $31.10.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data 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, equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.88%. Corebridge Financial's dividend payout ratio (DPR) is 25.40%.

Wall Street Analyst Weigh In

Several research firms have commented on CRBG. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price on the stock in a research note on Monday, January 6th. Piper Sandler increased their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. 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 on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and raised their price objective for the company 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 assigned a buy rating to the company's stock. According to MarketBeat.com, Corebridge Financial presently has an average rating of "Moderate Buy" and an average price target of $37.29.

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.