Vestor Capital LLC Purchases New Shares in Corebridge Financial, Inc. (NYSE:CRBG)

Vestor Capital LLC purchased a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds also recently made changes to their positions in the company. Mariner LLC boosted its position in shares of Corebridge Financial by 4.3% during the third quarter. Mariner LLC now owns 33,647 shares of the company’s stock valued at $665,000 after purchasing an additional 1,388 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Corebridge Financial in the third quarter worth $28,000. Cullen Frost Bankers Inc. bought a new stake in Corebridge Financial in the third quarter worth $55,000. Headlands Technologies LLC bought a new stake in Corebridge Financial in the fourth quarter worth $65,000. Finally, Raymond James & Associates boosted its holdings in Corebridge Financial by 11.7% in the third quarter. Raymond James & Associates now owns 37,003 shares of the company’s stock worth $731,000 after acquiring an additional 3,886 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Performance

Corebridge Financial stock traded down $0.57 during mid-day trading on Thursday, reaching $30.25. 3,517,762 shares of the stock traded hands, compared to its average volume of 4,269,254. The stock has a market capitalization of $18.83 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a 12-month low of $16.13 and a 12-month high of $30.98. The business’s 50-day moving average is $26.94 and its 200-day moving average is $23.89.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data 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 analysts’ expectations of $5.50 billion. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 4.82 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, June 14th. Corebridge Financial’s dividend payout ratio (DPR) is presently 24.21%.

Analysts Set New Price Targets

CRBG has been the topic of several analyst reports. Evercore ISI boosted their target price on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. UBS Group boosted their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods boosted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler upped their price target on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley upped their price target on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Corebridge Financial 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.