WINTON GROUP Ltd Acquires Shares of 37,439 Corebridge Financial, Inc. $CRBG

WINTON GROUP Ltd acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 37,439 shares of the company’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRBG. Strs Ohio bought a new stake in Corebridge Financial in the first quarter worth $1,823,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Corebridge Financial in the second quarter valued at $17,576,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Corebridge Financial in the first quarter valued at $1,257,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $433,000. Finally, Pzena Investment Management LLC boosted its stake in shares of Corebridge Financial by 132.6% during the 2nd quarter. Pzena Investment Management LLC now owns 18,723,701 shares of the company’s stock worth $664,691,000 after purchasing an additional 10,673,099 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Up 1.8%

Shares of NYSE:CRBG opened at $31.25 on Thursday. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The stock has a market cap of $16.26 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04. The business’s 50 day moving average is $30.65 and its 200 day moving average is $32.73. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 17th. Corebridge Financial’s payout ratio is presently 57.14%.

Analysts Set New Price Targets

CRBG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $33.00 price target (down from $39.00) on shares of Corebridge Financial in a report on Monday, November 17th. Barclays decreased their price target on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Evercore ISI cut their price objective on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corebridge Financial in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.40.

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.