Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.23 Million Position in Corebridge Financial, Inc. $CRBG

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 55.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,909 shares of the company’s stock after acquiring an additional 35,809 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $3,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in Corebridge Financial by 928.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 68,226 shares of the company’s stock valued at $2,187,000 after purchasing an additional 61,595 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Corebridge Financial by 42.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 705,500 shares of the company’s stock valued at $22,611,000 after acquiring an additional 210,400 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Corebridge Financial during the 2nd quarter valued at $682,000. Asset Management One Co. Ltd. grew its position in Corebridge Financial by 43.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 140,042 shares of the company’s stock worth $4,488,000 after acquiring an additional 42,185 shares during the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Corebridge Financial by 132.6% in 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 in the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRBG shares. Barclays cut their price target on Corebridge Financial from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Keefe, Bruyette & Woods cut their target price 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. UBS Group decreased their price target on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company dropped their price target on shares of Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Mizuho initiated coverage on shares of Corebridge Financial in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $38.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.70.

Corebridge Financial Trading Up 0.3%

CRBG opened at $30.55 on Monday. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.57. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average of $30.14 and a 200-day moving average of $32.26. The stock has a market cap of $15.90 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.44 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. Corebridge Financial’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.96 annualized dividend and a yield of 3.1%. Corebridge Financial’s dividend payout ratio (DPR) is currently 57.14%.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.