Vinva Investment Management Ltd Sells 73,611 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Vinva Investment Management Ltd lessened its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 71.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,982 shares of the company’s stock after selling 73,611 shares during the period. Vinva Investment Management Ltd’s holdings in Corebridge Financial were worth $869,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CRBG. Oppenheimer & Co. Inc. bought a new stake in Corebridge Financial during the third quarter worth about $423,000. CIBC Asset Management Inc raised its holdings in Corebridge Financial by 4.2% during the third quarter. CIBC Asset Management Inc now owns 19,579 shares of the company’s stock worth $571,000 after acquiring an additional 793 shares in the last quarter. Swiss National Bank raised its holdings in Corebridge Financial by 10.3% during the third quarter. Swiss National Bank now owns 812,665 shares of the company’s stock worth $23,697,000 after acquiring an additional 75,600 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Corebridge Financial by 28.5% during the third quarter. Ontario Teachers Pension Plan Board now owns 21,739 shares of the company’s stock worth $634,000 after acquiring an additional 4,822 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Corebridge Financial by 2.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock worth $305,709,000 after acquiring an additional 284,781 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.3 %

Shares of NYSE:CRBG opened at $32.46 on Friday. The company has a market capitalization of $18.05 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The business’s 50 day simple moving average is $32.52 and its 200 day simple moving average is $31.01.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. On average, research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.96%. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. BMO Capital Markets began coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.29.

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.