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

Versor Investments LP reduced its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 7.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,700 shares of the company’s stock after selling 2,100 shares during the quarter. Versor Investments LP’s holdings in Corebridge Financial were worth $739,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CRBG. Point72 Asia Singapore Pte. Ltd. bought a new stake in Corebridge Financial during the third quarter valued at about $27,000. Fortitude Family Office LLC bought a new stake in Corebridge Financial during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial during the fourth quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Corebridge Financial during the third quarter valued at about $28,000. Finally, HM Payson & Co. bought a new stake in Corebridge Financial during the third quarter valued at about $29,000. 98.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

CRBG has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $43.00 in a report on Friday. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Trading Up 4.2 %

CRBG opened at $34.71 on Friday. The firm has a market cap of $19.30 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 12 month low of $23.77 and a 12 month high of $34.84. 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 stock has a 50-day moving average of $32.06 and a 200 day moving average of $30.64.

Corebridge Financial (NYSE:CRBG) last released its quarterly 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%. As a group, research 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, March 17th. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s payout ratio is 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.