248,000 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Gator Capital Management LLC

Gator Capital Management LLC acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 248,000 shares of the company’s stock, valued at approximately $7,423,000. Corebridge Financial accounts for about 2.8% of Gator Capital Management LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRBG. Point72 Asia Singapore Pte. Ltd. bought a new stake in Corebridge Financial during the 3rd quarter valued at $27,000. Fortitude Family Office LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC bought a new stake in shares of Corebridge Financial during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC raised its holdings in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares during the last quarter. Finally, Oarsman Capital Inc. bought a new position in Corebridge Financial in the 4th quarter valued at about $30,000. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CRBG. BMO Capital Markets assumed coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Piper Sandler increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a report on Monday, January 6th. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and lowered their target price for the company from $40.00 to $28.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $25.62 on Friday. 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 business’s 50 day simple moving average is $32.48 and its 200 day simple moving average is $31.32. Corebridge Financial, Inc. has a 12 month low of $23.97 and a 12 month high of $35.36. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results 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 net margin of 11.39% and a return on equity of 22.69%. Sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.24 dividend. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. Corebridge Financial’s dividend payout ratio (DPR) is presently 25.40%.

Corebridge Financial 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.