Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 1,409.4% in the third quarter, HoldingsChannel reports. The firm owned 14,098 shares of the company’s stock after purchasing an additional 13,164 shares during the quarter. National Bank of Canada FI’s holdings in Corebridge Financial were worth $411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CRBG. Swedbank AB bought a new stake in shares of Corebridge Financial during the second quarter valued at approximately $5,639,000. State Street Corp increased its position in Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after acquiring an additional 843,559 shares during the period. Senator Investment Group LP raised its stake in Corebridge Financial by 152.2% during the 2nd quarter. Senator Investment Group LP now owns 1,160,000 shares of the company’s stock valued at $33,779,000 after acquiring an additional 700,000 shares in the last quarter. Qsemble Capital Management LP acquired a new position in Corebridge Financial during the 3rd quarter worth $2,370,000. Finally, Marshall Wace LLP grew its stake in shares of Corebridge Financial by 201.1% in the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company’s stock worth $116,723,000 after purchasing an additional 2,677,105 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Up 1.1 %

Shares of Corebridge Financial stock opened at $30.69 on Monday. Corebridge Financial, Inc. has a 12-month low of $21.40 and a 12-month high of $34.66. The firm has a market capitalization of $17.46 billion, a PE ratio of -14.68, a price-to-earnings-growth ratio of 0.39 and a beta of 0.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average is $31.27 and its 200-day moving average is $29.50.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The firm had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts anticipate that Corebridge Financial, Inc. will post 4.81 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.23 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.92 annualized dividend and a dividend yield of 3.00%. Corebridge Financial’s dividend payout ratio (DPR) is presently -44.02%.

Analyst Upgrades and Downgrades

CRBG has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Morgan Stanley raised their target price on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays increased their price objective on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler dropped their target price on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.08% 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.