Fox Run Management L.L.C. Purchases Shares of 16,884 Corebridge Financial, Inc. (NYSE:CRBG)

Fox Run Management L.L.C. acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,884 shares of the company’s stock, valued at approximately $505,000.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Corebridge Financial in the third quarter worth approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Corebridge Financial during the 4th quarter worth $27,000. FNY Investment Advisers LLC bought a new stake in shares of Corebridge Financial during the 4th quarter worth $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company’s stock worth $33,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Finally, TD Cowen increased their target price on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and thirteen have given 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 $37.29.

Corebridge Financial Trading Up 0.8 %

NYSE:CRBG opened at $33.31 on Wednesday. The company has a market capitalization of $18.52 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.43 and a beta of 0.92. The stock’s 50 day moving average price is $32.70 and its 200 day moving average price is $31.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 52 week low of $23.97 and a 52 week high of $35.36.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate 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 forecast 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 given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.88%. 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%.

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.