Jackson Hole Capital Partners LLC Acquires Shares of 9,716 Corebridge Financial, Inc. (NYSE:CRBG)

Jackson Hole Capital Partners LLC acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,716 shares of the company’s stock, valued at approximately $210,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Corebridge Financial during the third quarter worth about $28,000. Cullen Frost Bankers Inc. acquired a new position in shares of Corebridge Financial during the third quarter worth about $55,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Corebridge Financial during the third quarter worth about $104,000. Loomis Sayles & Co. L P increased its stake in shares of Corebridge Financial by 1,450.9% during the third quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company’s stock worth $130,000 after acquiring an additional 6,152 shares during the period. Finally, CI Investments Inc. increased its stake in shares of Corebridge Financial by 7,879.8% during the third quarter. CI Investments Inc. now owns 9,097 shares of the company’s stock worth $180,000 after acquiring an additional 8,983 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRBG. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler upped their target price on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Corebridge Financial in a research report on Friday, April 12th. Finally, UBS Group upped their target price on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.08.

Corebridge Financial Price Performance

Shares of CRBG stock traded up $0.07 during trading hours on Friday, hitting $26.75. The company’s stock had a trading volume of 2,411,042 shares, compared to its average volume of 4,209,538. The business has a fifty day moving average of $26.37 and a 200-day moving average of $23.41. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 0.32 and a beta of 0.86. Corebridge Financial, Inc. has a twelve month low of $14.91 and a twelve month high of $29.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.65 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. As a group, equities research analysts anticipate that Corebridge Financial, Inc. will post 4.82 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. Corebridge Financial’s dividend payout ratio is presently 54.44%.

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.