Healthcare of Ontario Pension Plan Trust Fund Sells 51,400 Shares of Corebridge Financial, Inc. $CRBG

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,600 shares of the company’s stock after selling 51,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Corebridge Financial worth $9,511,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its holdings in shares of Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after buying an additional 520 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Corebridge Financial by 143.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,667 shares of the company’s stock worth $50,000 after buying an additional 983 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Corebridge Financial by 98.8% in the fourth quarter. IFP Advisors Inc now owns 1,797 shares of the company’s stock worth $54,000 after acquiring an additional 893 shares during the period. Finally, Key Capital Management INC purchased a new stake in Corebridge Financial during the fourth quarter valued at $56,000. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Trading Up 1.9%

Shares of NYSE:CRBG opened at $32.33 on Wednesday. The stock has a 50 day moving average of $29.10 and a 200 day moving average of $27.94. The company has a market cap of $14.41 billion, a PE ratio of 58.78, a price-to-earnings-growth ratio of 0.40 and a beta of 1.10. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $36.57.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.55 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is presently 181.82%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRBG shares. Weiss Ratings downgraded Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Piper Sandler boosted their price target on Corebridge Financial from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Jefferies Financial Group upped their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Barclays raised their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, UBS Group boosted their target price on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.75.

Insider Buying and Selling at Corebridge Financial

In related news, insider David Ditillo sold 4,250 shares of Corebridge Financial stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.00, for a total transaction of $127,500.00. Following the transaction, the insider owned 128,153 shares in the company, valued at approximately $3,844,590. The trade was a 3.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

Corebridge Financial Company 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.