Caxton Associates LLP Purchases Shares of 56,180 Corebridge Financial, Inc. $CRBG

Caxton Associates LLP purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 56,180 shares of the company’s stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Michigan Retirement System acquired a new position in Corebridge Financial in the fourth quarter valued at approximately $2,130,000. Yousif Capital Management LLC increased its stake in Corebridge Financial by 873.3% in the fourth quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock valued at $2,591,000 after purchasing an additional 79,018 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Corebridge Financial during the fourth quarter worth approximately $5,358,000. Retirement Systems of Alabama raised its holdings in Corebridge Financial by 241.4% during the fourth quarter. Retirement Systems of Alabama now owns 453,751 shares of the company’s stock worth $13,690,000 after purchasing an additional 320,851 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Corebridge Financial by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after buying an additional 311,133 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler boosted their price target on shares of Corebridge Financial from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Barclays upped their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Zacks Research raised Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group boosted their target price on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Corebridge Financial Stock Up 1.4%

Shares of NYSE:CRBG opened at $31.28 on Friday. The stock has a market cap of $13.95 billion, a P/E ratio of 56.88, a P/E/G ratio of 0.39 and a beta of 1.10. The firm has a fifty day moving average price of $28.90 and a 200 day moving average price of $27.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $36.57.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Sell-side analysts predict that Corebridge Financial, Inc. will post 4.55 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, June 16th. Corebridge Financial’s payout ratio is 181.82%.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, insider David Ditillo sold 4,250 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $30.00, for a total transaction of $127,500.00. Following the completion of the sale, the insider directly owned 128,153 shares of the company’s stock, valued at $3,844,590. This represents a 3.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by company insiders.

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.