Bank of Montreal Can Has $3.29 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Bank of Montreal Can cut its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 58.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,285 shares of the company’s stock after selling 159,499 shares during the period. Bank of Montreal Can’s holdings in Corebridge Financial were worth $3,292,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CRBG. Commonwealth Equity Services LLC boosted its holdings in Corebridge Financial by 2.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company’s stock valued at $650,000 after purchasing an additional 597 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Corebridge Financial by 3.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,403 shares of the company’s stock valued at $740,000 after buying an additional 770 shares during the period. Riverview Trust Co bought a new stake in shares of Corebridge Financial in the first quarter valued at approximately $25,000. Deseret Mutual Benefit Administrators grew its position in Corebridge Financial by 73.2% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company’s stock worth $60,000 after buying an additional 877 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Corebridge Financial by 5.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,511 shares of the company’s stock worth $503,000 after acquiring an additional 978 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by company insiders.

Corebridge Financial Price Performance

Shares of CRBG opened at $28.28 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. The stock has a market cap of $17.21 billion, a PE ratio of 7.44, a PEG ratio of 0.39 and a beta of 0.97. Corebridge Financial, Inc. has a 12-month low of $18.83 and a 12-month high of $34.66. The business has a 50-day simple moving average of $27.90 and a two-hundred day simple moving average of $28.50.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the business earned $1.04 EPS. Analysts anticipate that Corebridge Financial, Inc. will post 4.73 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.23 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.25%. Corebridge Financial’s dividend payout ratio is 24.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRBG shares. Piper Sandler cut their target price on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group upped their price target on shares of Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays assumed coverage on shares of Corebridge Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $33.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $33.54.

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.