Elo Mutual Pension Insurance Co Has $556,000 Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Elo Mutual Pension Insurance Co cut its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 23.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,586 shares of the company’s stock after selling 5,734 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Corebridge Financial were worth $556,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Corebridge Financial in the third quarter valued at $27,000. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the 4th quarter valued at about $27,000. FNY Investment Advisers LLC bought a new position in Corebridge Financial in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC raised its holdings in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after acquiring an additional 729 shares during the period. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. BMO Capital Markets started coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Trading Down 2.8 %

Shares of CRBG opened at $31.34 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.43 and a beta of 0.92. The business’s fifty day moving average is $32.74 and its 200-day moving average is $31.26.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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. The ex-dividend date is Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.06%. Corebridge Financial’s dividend payout ratio 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.