Marshall Wace LLP Has $116.72 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Marshall Wace LLP lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 201.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,008,341 shares of the company’s stock after acquiring an additional 2,677,105 shares during the period. Marshall Wace LLP’s holdings in Corebridge Financial were worth $116,723,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CRBG. Commonwealth Equity Services LLC grew its stake in shares of Corebridge Financial by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company’s stock worth $650,000 after acquiring an additional 597 shares during the last quarter. Xponance Inc. boosted its holdings 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 purchasing an additional 612 shares during the period. Vanguard Personalized Indexing Management LLC grew 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 worth $740,000 after purchasing an additional 770 shares during the last quarter. Riverview Trust Co bought a new position in shares of Corebridge Financial during the 1st quarter worth about $25,000. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Corebridge Financial by 73.2% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company’s stock valued at $60,000 after buying an additional 877 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Performance

Shares of NYSE:CRBG opened at $28.59 on Tuesday. The business has a fifty day moving average of $28.02 and a 200-day moving average of $28.34. The firm has a market cap of $17.40 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.35 and a beta of 0.97. 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 twelve month low of $18.83 and a twelve month high of $34.66.

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

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, September 16th. Corebridge Financial’s dividend payout ratio is 24.21%.

Analyst Ratings Changes

CRBG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Corebridge Financial from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Barclays began coverage on Corebridge Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $33.00 price objective on the stock. Jefferies Financial Group lifted their price target on shares of Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America dropped their price objective on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley dropped their price target on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.62.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 1,932,609 shares of Corebridge Financial stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 14,964,738 shares of company stock valued at $400,732,195. 0.09% of the stock is currently owned by insiders.

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.