Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 17,170 shares of the company’s stock after buying an additional 1,055 shares during the period. MML Investors Services LLC’s holdings in Corebridge Financial were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Corebridge Financial during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $28,000. ORG Wealth Partners LLC acquired a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in Corebridge Financial in the 3rd quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new stake in Corebridge Financial during the 2nd quarter valued at $30,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler upped their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. TD Cowen lifted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Barclays lifted their target price on shares of Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.08.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

Corebridge Financial Stock Up 2.0 %

CRBG opened at $29.66 on Monday. Corebridge Financial, Inc. has a 1 year low of $21.40 and a 1 year high of $34.66. The firm has a 50 day moving average price of $31.24 and a 200 day moving average price of $29.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $16.87 billion, a PE ratio of -14.19, a price-to-earnings-growth ratio of 0.39 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG) last released 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. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Sell-side analysts expect that Corebridge Financial, Inc. will post 4.81 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.10%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial’s dividend payout ratio (DPR) is presently -44.02%.

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.