APG Asset Management N.V. Takes Position in Corebridge Financial, Inc. (NYSE:CRBG)

APG Asset Management N.V. purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 20,400 shares of the company’s stock, valued at approximately $554,000.

A number of other institutional investors have also recently bought and sold shares of CRBG. Janney Montgomery Scott LLC bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $514,000. Hsbc Holdings PLC lifted its holdings in Corebridge Financial by 604.1% during the 4th quarter. Hsbc Holdings PLC now owns 130,926 shares of the company’s stock valued at $2,833,000 after purchasing an additional 112,330 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in Corebridge Financial by 61.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 104,744 shares of the company’s stock worth $2,269,000 after purchasing an additional 39,784 shares during the period. Capital Research Global Investors increased its holdings in shares of Corebridge Financial by 6.5% in the fourth quarter. Capital Research Global Investors now owns 30,781,806 shares of the company’s stock valued at $666,734,000 after purchasing an additional 1,865,841 shares during the last quarter. Finally, Williamson Legacy Group LLC bought a new position in shares of Corebridge Financial in the fourth quarter valued at about $716,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

CRBG has been the subject of several research analyst reports. Morgan Stanley reduced their target price on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays initiated coverage on Corebridge Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $33.00 target price on the stock. Bank of America lowered their target price 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. Royal Bank of Canada reduced their price target 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. Finally, UBS Group increased their price objective on Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Corebridge Financial has an average rating of “Moderate Buy” and a consensus target price of $33.62.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $28.60 on Wednesday. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.39 and a beta of 0.97. Corebridge Financial, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $34.66. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a fifty day moving average price of $27.91 and a 200-day moving average price of $28.50.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. As a group, equities analysts anticipate that Corebridge Financial, Inc. will post 4.73 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. Corebridge Financial’s dividend payout ratio (DPR) is 24.21%.

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 stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

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.