Cookson Peirce & Co. Inc. Has $25.22 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Cookson Peirce & Co. Inc. increased its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 842,508 shares of the company’s stock after acquiring an additional 68,404 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Corebridge Financial were worth $25,216,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Corebridge Financial by 21.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,187 shares of the company’s stock valued at $1,084,000 after acquiring an additional 6,571 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Corebridge Financial by 25.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,251,058 shares of the company’s stock valued at $65,641,000 after purchasing an additional 462,917 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Corebridge Financial during the third quarter valued at about $286,000. QRG Capital Management Inc. boosted its holdings in Corebridge Financial by 25.8% during the third quarter. QRG Capital Management Inc. now owns 260,426 shares of the company’s stock worth $7,594,000 after purchasing an additional 53,329 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in Corebridge Financial by 2.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 128,349 shares of the company’s stock worth $3,743,000 after purchasing an additional 3,150 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. TD Cowen lifted their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Trading Down 6.3 %

Shares of CRBG stock opened at $32.06 on Wednesday. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.43 and a beta of 0.94. The company’s fifty day simple moving average is $32.19 and its two-hundred day simple moving average is $30.77. Corebridge Financial, Inc. has a 1 year low of $23.77 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.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data 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 net margin of 11.39% and a return on equity of 22.69%. As a group, analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Insider Activity

In related news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

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.