Asset Management One Co. Ltd. Has $3.74 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Asset Management One Co. Ltd. increased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,349 shares of the company’s stock after purchasing an additional 3,150 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Corebridge Financial were worth $3,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in Corebridge Financial by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock worth $625,000 after purchasing an additional 585 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Corebridge Financial by 2.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company’s stock worth $650,000 after purchasing an additional 597 shares in the last quarter. Xponance Inc. increased its position in Corebridge Financial by 3.0% in the 2nd quarter. Xponance Inc. now owns 21,037 shares of the company’s stock valued at $613,000 after acquiring an additional 612 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Corebridge Financial by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,403 shares of the company’s stock valued at $740,000 after acquiring an additional 770 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its position in Corebridge Financial by 73.2% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company’s stock valued at $60,000 after acquiring an additional 877 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

CRBG has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Barclays upped their price target on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen initiated coverage on shares of Corebridge Financial in a research report on Wednesday, October 9th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Piper Sandler decreased their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.85.

Corebridge Financial Stock Down 3.2 %

Shares of NYSE CRBG opened at $30.82 on Friday. The firm has a market cap of $17.53 billion, a PE ratio of -14.75, a P/E/G ratio of 0.44 and a beta of 0.90. Corebridge Financial, Inc. has a 12-month low of $18.83 and a 12-month high of $34.66. The company’s fifty day simple moving average is $29.63 and its 200 day simple moving average is $29.15. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Corebridge Financial’s revenue was up 39.5% on a year-over-year basis. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 4.7 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial’s dividend payout ratio (DPR) is -44.02%.

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.