Headlands Technologies LLC Has $75,000 Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Headlands Technologies LLC increased its position in Corebridge Financial, Inc. (NYSE:CRBG) by 169.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,565 shares of the company’s stock after buying an additional 1,612 shares during the period. Headlands Technologies LLC’s holdings in Corebridge Financial were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Junto Capital Management LP bought a new position in shares of Corebridge Financial in the fourth quarter valued at approximately $26,232,000. Pzena Investment Management LLC raised its holdings in shares of Corebridge Financial by 793.0% in the fourth quarter. Pzena Investment Management LLC now owns 1,590,098 shares of the company’s stock valued at $34,442,000 after purchasing an additional 1,412,040 shares during the last quarter. Swedbank AB bought a new position in shares of Corebridge Financial during the second quarter valued at about $5,639,000. Williamson Legacy Group LLC purchased a new position in Corebridge Financial during the fourth quarter worth about $716,000. Finally, Wellington Management Group LLP increased its stake in Corebridge Financial by 14,292.5% in the 4th quarter. Wellington Management Group LLP now owns 2,459,820 shares of the company’s stock valued at $53,280,000 after buying an additional 2,442,729 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CRBG shares. Jefferies Financial Group boosted their target price on Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada reduced their price objective on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. UBS Group boosted their price target on shares of Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Barclays started coverage on shares of Corebridge Financial in a report on Wednesday, September 4th. They set an “equal weight” rating and a $33.00 price objective for the company. Finally, Bank of America dropped their target price on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.62.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of Corebridge Financial stock in a transaction 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 sale, the insider now owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $27.18 on Tuesday. The company has a market cap of $16.54 billion, a P/E ratio of 7.15, a P/E/G ratio of 0.35 and a beta of 0.97. Corebridge Financial, Inc. has a 1 year low of $18.44 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 stock’s fifty day moving average price is $28.22 and its two-hundred day moving average price is $28.22.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, analysts expect that Corebridge Financial, Inc. will post 4.74 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, September 16th. Corebridge Financial’s payout ratio is 24.21%.

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.