New York State Common Retirement Fund Buys 37,040 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

New York State Common Retirement Fund boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,853 shares of the company’s stock after purchasing an additional 37,040 shares during the period. New York State Common Retirement Fund’s holdings in Corebridge Financial were worth $3,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Factory Mutual Insurance Co. increased its holdings in Corebridge Financial by 47.1% in the fourth quarter. Factory Mutual Insurance Co. now owns 1,028,200 shares of the company’s stock valued at $22,271,000 after purchasing an additional 329,200 shares during the period. Vanguard Group Inc. boosted its position in shares of Corebridge Financial by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock valued at $337,022,000 after purchasing an additional 1,566,275 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $18,378,000. Charles Schwab Investment Management Inc. boosted its position in shares of Corebridge Financial by 90.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock valued at $27,306,000 after purchasing an additional 656,440 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Corebridge Financial by 15.0% in the third quarter. TD Asset Management Inc now owns 5,252,950 shares of the company’s stock worth $103,746,000 after acquiring an additional 686,727 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of CRBG opened at $28.68 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $17.85 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 0.33 and a beta of 0.96. The stock has a 50 day moving average of $26.61 and a 200 day moving average of $23.71. Corebridge Financial, Inc. has a 12 month low of $14.91 and a 12 month high of $29.53.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. During the same period last year, the business posted $0.97 earnings per share. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 4.82 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, March 14th. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their price target on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Piper Sandler increased their price target on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Corebridge Financial in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Corebridge Financial Company 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.