Williamson Legacy Group LLC Sells 1,096 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Williamson Legacy Group LLC cut its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,944 shares of the company’s stock after selling 1,096 shares during the quarter. Williamson Legacy Group LLC’s holdings in Corebridge Financial were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Corebridge Financial during the third quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in shares of Corebridge Financial during the third quarter worth approximately $28,000. Finally, HM Payson & Co. bought a new position in shares of Corebridge Financial during the third quarter worth approximately $29,000. 98.25% of the stock is owned by institutional investors.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the transaction, the insider now directly owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRBG. TD Cowen lifted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler lifted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.29.

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $34.71 on Friday. Corebridge Financial, Inc. has a twelve month low of $23.77 and a twelve month high of $34.84. The firm has a fifty day simple moving average of $32.06 and a 200 day simple moving average of $30.64. The company has a market capitalization of $19.30 billion, a PE ratio of 9.18, a P/E/G ratio of 0.43 and a beta of 0.94. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. Corebridge Financial’s 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.