Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 9,241.6% during the third quarter, Holdings Channel.com reports. The fund owned 65,391 shares of the company’s stock after purchasing an additional 64,691 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corebridge Financial were worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Corebridge Financial by 9.9% in the 1st quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock worth $972,257,000 after purchasing an additional 3,059,354 shares during the period. Vanguard Group Inc. raised its holdings in Corebridge Financial by 6.0% in the first quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock valued at $721,938,000 after buying an additional 1,415,265 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Corebridge Financial by 2.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,199,075 shares of the company’s stock valued at $296,997,000 after buying an additional 227,973 shares in the last quarter. TD Asset Management Inc grew its stake in Corebridge Financial by 0.5% during the second quarter. TD Asset Management Inc now owns 7,426,483 shares of the company’s stock worth $216,259,000 after buying an additional 37,269 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Corebridge Financial by 249.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock worth $183,894,000 after acquiring an additional 4,507,322 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.5 %

CRBG opened at $31.62 on Friday. Corebridge Financial, Inc. has a 12-month low of $18.83 and a 12-month 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 has a market capitalization of $18.72 billion, a PE ratio of 9.85, a P/E/G ratio of 0.44 and a beta of 0.97. The firm’s fifty day moving average price is $29.38 and its 200 day moving average price is $29.00.

Corebridge Financial (NYSE:CRBG) last released its earnings results 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 company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, research analysts expect that Corebridge Financial, Inc. will post 4.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRBG has been the topic of several recent research reports. UBS Group lifted their target price on shares of Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reduced their price objective on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley lowered their target price on Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Piper Sandler reduced their price target on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, 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 objective for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.46.

Insider Buying and Selling

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

About Corebridge Financial

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.