Legend Financial Advisors Inc. Has $771,000 Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Legend Financial Advisors Inc. raised its position in Corebridge Financial, Inc. (NYSE:CRBG) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the company’s stock after acquiring an additional 951 shares during the quarter. Corebridge Financial makes up about 0.5% of Legend Financial Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Legend Financial Advisors Inc.’s holdings in Corebridge Financial were worth $771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its holdings in Corebridge Financial by 249.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock valued at $183,894,000 after acquiring an additional 4,507,322 shares during the period. Marshall Wace LLP increased its stake in shares of Corebridge Financial by 201.1% during the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company’s stock worth $116,723,000 after purchasing an additional 2,677,105 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Corebridge Financial by 150.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company’s stock worth $103,707,000 after purchasing an additional 2,137,594 shares during the last quarter. AQR Capital Management LLC boosted its stake in Corebridge Financial by 40.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,462,933 shares of the company’s stock valued at $129,961,000 after purchasing an additional 1,282,154 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in 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 valued at $104,032,000 after purchasing an additional 915,848 shares during the period. Institutional investors own 98.25% of the company’s stock.

Analysts Set New Price Targets

CRBG has been the subject of a number of research reports. Piper Sandler lifted their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. 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. Finally, TD Cowen increased their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.15.

Corebridge Financial Trading Up 0.7 %

Shares of NYSE:CRBG traded up $0.22 during midday trading on Tuesday, hitting $31.31. 2,289,493 shares of the stock were exchanged, compared to its average volume of 2,587,460. The business’s 50-day moving average price is $30.98 and its 200 day moving average price is $29.61. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of -14.98, a P/E/G ratio of 0.39 and a beta of 0.92. Corebridge Financial, Inc. has a 12 month low of $23.01 and a 12 month high of $34.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts predict that Corebridge Financial, Inc. will post 4.81 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.94%. Corebridge Financial’s dividend payout ratio (DPR) is -44.02%.

Insider Buying and Selling

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 stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by insiders.

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.