Artemis Investment Management LLP Has $56.82 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Artemis Investment Management LLP grew its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,898,551 shares of the company’s stock after acquiring an additional 335,532 shares during the period. Artemis Investment Management LLP owned 0.33% of Corebridge Financial worth $56,824,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in Corebridge Financial by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock valued at $4,871,000 after purchasing an additional 16,970 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Corebridge Financial in the 3rd quarter valued at approximately $581,000. State Street Corp grew its stake in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after buying an additional 843,559 shares in the last quarter. First Hawaiian Bank acquired a new position in Corebridge Financial in the fourth quarter worth approximately $1,168,000. Finally, Qsemble Capital Management LP bought a new position in Corebridge Financial during the third quarter valued at approximately $2,370,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on CRBG shares. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Piper Sandler boosted their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, TD Cowen boosted their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $35.92.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.08% of the company’s stock.

Corebridge Financial Price Performance

CRBG opened at $31.99 on Friday. The business has a 50 day moving average of $30.84 and a 200-day moving average of $29.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a 1-year low of $23.01 and a 1-year high of $34.66.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 39.5% on a year-over-year basis. On average, equities analysts expect that Corebridge Financial, Inc. will post 4.83 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 2.88%. Corebridge Financial’s dividend payout ratio is -44.02%.

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.