20,000 Shares in Corebridge Financial, Inc. $CRBG Bought by Strive Asset Management LLC

Strive Asset Management LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $641,000.

Other institutional investors also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC increased its stake in shares of Corebridge Financial by 55.2% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 18,964 shares of the company’s stock valued at $580,000 after acquiring an additional 6,746 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new stake in Corebridge Financial in the third quarter valued at approximately $842,000. Monashee Investment Management LLC acquired a new stake in Corebridge Financial in the third quarter worth $6,410,000. American Century Companies Inc. boosted its position in shares of Corebridge Financial by 8.8% during the third quarter. American Century Companies Inc. now owns 778,126 shares of the company’s stock worth $24,939,000 after purchasing an additional 63,157 shares in the last quarter. Finally, Huntington National Bank grew its holdings in shares of Corebridge Financial by 6.1% in the 3rd quarter. Huntington National Bank now owns 11,009 shares of the company’s stock valued at $353,000 after buying an additional 630 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRBG has been the topic of several recent analyst reports. Zacks Research lowered Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. JPMorgan Chase & Co. dropped their price target on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Mizuho assumed coverage on Corebridge Financial in a report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 price objective on the stock. Wells Fargo & Company lowered their target price on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, UBS Group dropped their target price on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.50.

Corebridge Financial Stock Performance

Shares of CRBG stock opened at $25.95 on Tuesday. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $36.57. The company’s fifty day simple moving average is $30.13 and its 200-day simple moving average is $31.20. The firm has a market cap of $12.50 billion, a PE ratio of -48.96, a P/E/G ratio of 0.37 and a beta of 1.04. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Monday, February 9th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period in the previous year, the business earned $1.06 EPS. Equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 17th. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.9%. Corebridge Financial’s dividend payout ratio is currently -188.68%.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.