Diversified Trust Co Acquires 36,651 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Diversified Trust Co raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 128.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,167 shares of the company’s stock after acquiring an additional 36,651 shares during the quarter. Diversified Trust Co’s holdings in Corebridge Financial were worth $1,950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRBG. Principal Financial Group Inc. boosted its position in shares of Corebridge Financial by 24.7% in the 2nd quarter. Principal Financial Group Inc. now owns 121,221 shares of the company’s stock worth $3,530,000 after purchasing an additional 23,978 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Corebridge Financial by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company’s stock valued at $650,000 after buying an additional 597 shares during the period. Van ECK Associates Corp bought a new position in Corebridge Financial during the second quarter worth about $69,000. Natixis Advisors LLC acquired a new position in shares of Corebridge Financial during the 2nd quarter worth about $1,543,000. Finally, Rhumbline Advisers increased its stake in shares of Corebridge Financial by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 268,735 shares of the company’s stock valued at $7,826,000 after acquiring an additional 21,695 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

CRBG has been the topic of several recent analyst reports. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. 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 research report on Wednesday, November 27th. Morgan Stanley upped their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Monday. Finally, Piper Sandler increased their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus price target of $35.15.

Corebridge Financial Price Performance

NYSE CRBG opened at $31.31 on Wednesday. Corebridge Financial, Inc. has a 12-month low of $23.01 and a 12-month high of $34.66. The firm’s 50 day moving average is $30.97 and its 200-day moving average is $29.62. The company has a market capitalization of $17.81 billion, a PE ratio of -14.98, a price-to-earnings-growth ratio of 0.39 and a beta of 0.92. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83.

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

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 2.94%. Corebridge Financial’s dividend payout ratio (DPR) is presently -44.02%.

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.