Versor Investments LP Sells 2,100 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Versor Investments LP lowered its position in Corebridge Financial, Inc. (NYSE:CRBG) by 7.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,700 shares of the company’s stock after selling 2,100 shares during the period. Versor Investments LP’s holdings in Corebridge Financial were worth $739,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRBG. Raymond James & Associates raised its position in shares of Corebridge Financial by 36.6% in the 3rd quarter. Raymond James & Associates now owns 206,251 shares of the company’s stock worth $6,014,000 after acquiring an additional 55,292 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Corebridge Financial in the 3rd quarter worth approximately $2,367,000. Nisa Investment Advisors LLC raised its position in shares of Corebridge Financial by 9,241.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 65,391 shares of the company’s stock worth $1,907,000 after acquiring an additional 64,691 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in Corebridge Financial during the 3rd quarter valued at approximately $222,000. Finally, HM Payson & Co. bought a new position in Corebridge Financial during the 3rd quarter valued at approximately $29,000. Institutional investors own 98.25% of the company’s stock.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the transaction, the insider now directly owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. TD Cowen raised their price objective on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets assumed coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Finally, Piper Sandler raised their price objective on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.29.

Corebridge Financial Stock Performance

CRBG stock opened at $34.71 on Friday. The company has a market cap of $19.30 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 1 year low of $23.77 and a 1 year high of $34.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s fifty day moving average price is $32.06 and its 200-day moving average price is $30.64.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (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%. On average, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.24 dividend. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, March 17th. Corebridge Financial’s dividend payout ratio (DPR) is 25.40%.

About Corebridge Financial

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.