Yousif Capital Management LLC Purchases 2,898 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Yousif Capital Management LLC increased its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 40.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,016 shares of the company’s stock after purchasing an additional 2,898 shares during the period. Yousif Capital Management LLC’s holdings in Corebridge Financial were worth $300,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in Corebridge Financial by 11.3% during 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 acquiring an additional 16,970 shares during the period. Virtu Financial LLC bought a new stake in Corebridge Financial during the 3rd quarter valued at approximately $581,000. State Street Corp lifted its holdings in Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after purchasing an additional 843,559 shares in the last quarter. Qsemble Capital Management LP bought a new position in Corebridge Financial in the 3rd quarter worth approximately $2,370,000. Finally, First Hawaiian Bank purchased a new stake in Corebridge Financial during the 4th quarter valued at approximately $1,168,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

CRBG stock opened at $33.09 on Tuesday. The stock has a market cap of $18.82 billion, a PE ratio of -15.83, a P/E/G ratio of 0.37 and a beta of 0.94. Corebridge Financial, Inc. has a 12 month low of $23.77 and a 12 month high of $34.66. The company has a 50-day moving average price of $31.46 and a 200 day moving average price of $30.23. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.8 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio is 25.40%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CRBG shares. Wells Fargo & Company dropped their target price on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley raised their price objective on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, TD Cowen increased their target price on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and a consensus price target of $36.43.

Insiders Place Their Bets

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

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.