Corebridge Financial Inc. Cuts Stock Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Corebridge Financial Inc. lowered its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,664 shares of the company’s stock after selling 4,505 shares during the period. Corebridge Financial Inc.’s holdings in Brookfield Infrastructure were worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. J.Safra Asset Management Corp grew its position in shares of Brookfield Infrastructure by 55.0% during the fourth quarter. J.Safra Asset Management Corp now owns 772 shares of the company’s stock valued at $31,000 after purchasing an additional 274 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Brookfield Infrastructure by 217.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,106 shares of the company’s stock valued at $44,000 after buying an additional 758 shares in the last quarter. Allworth Financial LP increased its stake in Brookfield Infrastructure by 42.9% in the 4th quarter. Allworth Financial LP now owns 1,320 shares of the company’s stock worth $55,000 after acquiring an additional 396 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its holdings in shares of Brookfield Infrastructure by 34.0% during the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,814 shares of the company’s stock worth $73,000 after acquiring an additional 460 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Brookfield Infrastructure during the 3rd quarter valued at approximately $204,000. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Stock Performance

Shares of BIPC opened at $37.18 on Wednesday. The stock has a market capitalization of $4.43 billion, a PE ratio of 25.82 and a beta of 1.48. The company’s fifty day moving average is $39.28 and its 200 day moving average is $40.88. Brookfield Infrastructure Co. has a fifty-two week low of $28.47 and a fifty-two week high of $45.29.

Brookfield Infrastructure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.63%. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, February 28th. Brookfield Infrastructure’s dividend payout ratio is currently 119.44%.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.