Andra AP fonden Purchases 35,501 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Andra AP fonden grew its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 51.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 104,700 shares of the company’s stock after acquiring an additional 35,501 shares during the quarter. Andra AP fonden’s holdings in Corebridge Financial were worth $3,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors lifted its position in Corebridge Financial by 9.9% during the first quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock valued at $972,257,000 after purchasing an additional 3,059,354 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Corebridge Financial by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock valued at $721,938,000 after acquiring an additional 1,415,265 shares during the last quarter. Norges Bank purchased a new position in Corebridge Financial in the fourth quarter worth about $225,561,000. Hotchkis & Wiley Capital Management LLC increased its stake in Corebridge Financial by 106.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock worth $216,831,000 after acquiring an additional 5,157,570 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Corebridge Financial by 0.5% during the second quarter. TD Asset Management Inc now owns 7,426,483 shares of the company’s stock valued at $216,259,000 after purchasing an additional 37,269 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of Corebridge Financial stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRBG shares. Morgan Stanley cut their target price on Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group boosted their price objective on shares of Corebridge Financial from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada lowered their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Corebridge Financial from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Barclays initiated coverage on shares of Corebridge Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.62.

Corebridge Financial Stock Up 2.6 %

Shares of NYSE:CRBG opened at $27.51 on Friday. The business’s 50 day moving average is $28.29 and its 200 day moving average is $28.13. The stock has a market cap of $16.74 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.35 and a beta of 0.97. Corebridge Financial, Inc. has a 52-week low of $18.24 and a 52-week high of $34.66. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $5.73 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. During the same quarter in the prior year, the company earned $1.04 EPS. Sell-side analysts predict that Corebridge Financial, Inc. will post 4.75 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.23 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.34%. Corebridge Financial’s dividend payout ratio is currently 24.21%.

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.