GAMMA Investing LLC Has $644,000 Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

GAMMA Investing LLC boosted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 4,834.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,331 shares of the company’s stock after buying an additional 19,919 shares during the period. GAMMA Investing LLC’s holdings in Corebridge Financial were worth $644,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $781,000. Raymond James Financial Inc. purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $31,844,000. Principal Securities Inc. raised its holdings in shares of Corebridge Financial by 557.3% in the fourth quarter. Principal Securities Inc. now owns 10,044 shares of the company’s stock valued at $301,000 after purchasing an additional 8,516 shares during the last quarter. US Bancorp DE raised its holdings in shares of Corebridge Financial by 7,525.1% in the fourth quarter. US Bancorp DE now owns 21,579 shares of the company’s stock valued at $646,000 after purchasing an additional 21,296 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Corebridge Financial by 88.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company’s stock valued at $2,899,000 after purchasing an additional 45,363 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $32.60 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $17.92 billion, a PE ratio of 27.62, a P/E/G ratio of 0.52 and a beta of 1.04. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The company has a 50-day moving average price of $31.03 and a two-hundred day moving average price of $31.34.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. During the same quarter last year, the business earned $1.10 earnings per share. Equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.95%. Corebridge Financial’s dividend payout ratio is presently 81.36%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRBG shares. Keefe, Bruyette & Woods increased their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and lowered their target price for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. Wall Street Zen upgraded shares of Corebridge Financial from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, Morgan Stanley increased their price target on shares of Corebridge Financial from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.