Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Davidson Kempner Capital Management LP

Davidson Kempner Capital Management LP raised its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 29.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,190,891 shares of the company’s stock after acquiring an additional 492,891 shares during the quarter. Corebridge Financial makes up 1.3% of Davidson Kempner Capital Management LP’s investment portfolio, making the stock its 22nd biggest holding. Davidson Kempner Capital Management LP owned about 0.36% of Corebridge Financial worth $63,799,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in Corebridge Financial by 2.7% in the second 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 in the last quarter. Xponance Inc. grew its position in shares of 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 buying an additional 612 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of 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 buying an additional 770 shares during the last quarter. Riverview Trust Co acquired a new stake in Corebridge Financial during the 1st quarter worth $25,000. Finally, Deseret Mutual Benefit Administrators lifted its position in Corebridge Financial by 73.2% in the second 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 last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on 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 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 SEC, which is available through this hyperlink. Insiders have sold 14,964,738 shares of company stock valued at $400,732,195 over the last quarter. Company insiders own 0.09% of the company’s stock.

Corebridge Financial Stock Down 0.4 %

CRBG stock opened at $27.88 on Monday. The stock has a market capitalization of $16.96 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 0.35 and a beta of 0.97. The company has a fifty day moving average of $28.04 and a 200-day moving average of $28.31. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a one year low of $18.83 and a one year high of $34.66.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.13 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 firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm earned $1.04 earnings per share. As a group, analysts expect that Corebridge Financial, Inc. will post 4.74 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.23 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.30%. Corebridge Financial’s dividend payout ratio (DPR) is presently 24.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group raised their price objective on 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 Corebridge Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $33.00 price objective for the company. Bank of America lowered 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 report on Thursday, July 11th. Royal Bank of Canada reduced 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. Finally, Jefferies Financial Group raised their price objective on shares of Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.62.

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.