Amundi Purchases 191,473 Shares of Corebridge Financial, Inc. $CRBG

Amundi raised its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 38.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,483 shares of the company's stock after purchasing an additional 191,473 shares during the quarter. Amundi owned approximately 0.13% of Corebridge Financial worth $21,925,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. purchased a new position in Corebridge Financial in the fourth quarter valued at about $30,000. Brooklyn Investment Group grew its stake in Corebridge Financial by 66.7% in the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company's stock valued at $46,000 after purchasing an additional 581 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Corebridge Financial by 80.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,681 shares of the company's stock valued at $50,000 after purchasing an additional 748 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Corebridge Financial in the first quarter valued at about $75,000. Finally, SVB Wealth LLC purchased a new position in Corebridge Financial in the first quarter valued at about $85,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRBG. JPMorgan Chase & Co. boosted their target price on Corebridge Financial from $34.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays decreased their price target on Corebridge Financial from $47.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, September 5th. Morgan Stanley upped their price target on Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Wells Fargo & Company upped their price target on Corebridge Financial from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Finally, UBS Group upgraded Corebridge Financial from a "sell" rating to a "neutral" rating and upped their price target for the stock from $28.00 to $37.00 in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.80.

Corebridge Financial Stock Performance

Corebridge Financial stock traded down $0.52 during trading hours on Friday, hitting $33.36. The stock had a trading volume of 4,129,732 shares, compared to its average volume of 2,645,093. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $36.57. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $34.48 and a two-hundred day moving average of $32.53. The company has a market cap of $17.96 billion, a PE ratio of -54.68, a price-to-earnings-growth ratio of 0.57 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.21. Corebridge Financial had a positive return on equity of 22.06% and a negative net margin of 1.80%.The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the firm posted $1.13 EPS. On average, equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 16th. Corebridge Financial's dividend payout ratio (DPR) is currently -157.38%.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 1,184,160 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $33.65, for a total transaction of $39,846,984.00. Following the completion of the sale, the insider directly owned 82,711,853 shares of the company's stock, valued at $2,783,253,853.45. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

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.