Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 5,600 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 39,600 shares of the company’s stock after acquiring an additional 5,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corebridge Financial were worth $1,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CRBG. Nippon Life Insurance Co. bought a new stake in shares of Corebridge Financial in the 4th quarter worth $3,650,151,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Corebridge Financial by 34.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,567,637 shares of the company’s stock worth $104,032,000 after acquiring an additional 915,848 shares in the last quarter. State Street Corp grew its stake in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after acquiring an additional 843,559 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Corebridge Financial by 69.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,584,707 shares of the company’s stock worth $47,430,000 after acquiring an additional 649,718 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Corebridge Financial by 13.5% in the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after acquiring an additional 598,373 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRBG. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a research report on Monday, January 6th. 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. Morgan Stanley increased their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.64.

Corebridge Financial Trading Up 1.2 %

Shares of Corebridge Financial stock opened at $32.90 on Thursday. Corebridge Financial, Inc. has a 12-month low of $23.77 and a 12-month high of $34.66. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 0.43 and a beta of 0.94. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $31.87 and its 200-day moving average price is $30.56.

Corebridge Financial (NYSE:CRBG) last announced 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, equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal 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 2.92%. 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 Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.08% of the company’s stock.

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.