Corebridge Financial, Inc. (NYSE:CRBG) Stock Position Lifted by Artemis Investment Management LLP

Artemis Investment Management LLP raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,563,019 shares of the company’s stock after acquiring an additional 76,654 shares during the quarter. Artemis Investment Management LLP’s holdings in Corebridge Financial were worth $45,578,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CRBG. Riverview Trust Co acquired a new stake in shares of Corebridge Financial during the 1st quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Corebridge Financial in the 2nd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in Corebridge Financial during the 2nd quarter worth $32,000. Fifth Third Bancorp bought a new position in Corebridge Financial in the second quarter valued at approximately $54,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in Corebridge Financial by 73.2% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company’s stock worth $60,000 after purchasing an additional 877 shares during the period. Institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price target on Corebridge Financial from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada dropped their price target on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. TD Cowen assumed coverage on Corebridge Financial in a research note on Wednesday. They issued a “buy” rating and a $35.00 price target for the company. Barclays raised their target price on shares of Corebridge Financial from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Bank of America decreased their price target on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $34.46.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $29.48 on Wednesday. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14. The business has a 50 day moving average of $27.89 and a 200 day moving average of $28.57. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.39 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Thursday, August 1st. The company reported $1.13 EPS for the quarter, topping 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 company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the company earned $1.04 EPS. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 4.73 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.12%. Corebridge Financial’s dividend payout ratio (DPR) is currently 24.21%.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by insiders.

About Corebridge Financial

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.