Corebridge Financial, Inc. $CRBG Holdings Raised by Amundi

Amundi lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 38.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 694,483 shares of the company's stock after acquiring an additional 191,473 shares during the period. Amundi owned 0.13% of Corebridge Financial worth $21,925,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of Corebridge Financial during the fourth quarter valued at $30,000. Brooklyn Investment Group boosted its stake in shares of Corebridge Financial by 66.7% during the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company's stock valued at $46,000 after acquiring an additional 581 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Corebridge Financial by 80.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,681 shares of the company's stock worth $50,000 after buying an additional 748 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Corebridge Financial in the 1st quarter worth about $75,000. Finally, SVB Wealth LLC acquired a new stake in Corebridge Financial in the 1st quarter worth about $85,000. Institutional investors and hedge funds own 98.25% of the company's stock.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 1,184,160 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $33.65, for a total value of $39,846,984.00. Following the completion of the sale, the insider directly owned 82,711,853 shares in the company, valued at approximately $2,783,253,853.45. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company's stock.

Corebridge Financial Stock Down 0.9%

Shares of NYSE:CRBG traded down $0.30 during mid-day trading on Friday, hitting $33.59. 1,029,275 shares of the company traded hands, compared to its average volume of 3,258,537. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The firm's 50 day simple moving average is $34.53 and its 200 day simple moving average is $32.53. The firm has a market cap of $18.08 billion, a P/E ratio of -55.03, a PEG ratio of 0.56 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $1.13 EPS. On average, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRBG shares. Wells Fargo & Company raised 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. Piper Sandler raised their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley lifted their price objective on Corebridge Financial from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $39.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. 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, Corebridge Financial presently has an average rating of "Moderate Buy" and an average price target of $40.80.

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.