Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,614,298 shares of the company's stock after acquiring an additional 1,029,591 shares during the period. AustralianSuper Pty Ltd owned 0.47% of Corebridge Financial worth $82,533,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Oarsman Capital Inc. purchased a new position in Corebridge Financial during the 4th quarter worth $30,000. Sunbelt Securities Inc. purchased a new position in Corebridge Financial during the 4th quarter worth $30,000. Whittier Trust Co. of Nevada Inc. grew its stake in Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after buying an additional 423 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Corebridge Financial by 80.2% during the 4th 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 during the last quarter. Finally, Quarry LP purchased a new stake in Corebridge Financial during the 4th quarter valued at about $63,000. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Trading Down 0.1%

Corebridge Financial stock traded down $0.03 during mid-day trading on Friday, hitting $35.27. The company's stock had a trading volume of 1,570,109 shares, compared to its average volume of 3,252,697. The firm has a market capitalization of $19.39 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 0.57 and a beta of 1.06. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $36.08. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average is $33.44 and its two-hundred day moving average is $31.97.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the business posted $1.10 earnings per share. On average, analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.72%. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRBG. Wall Street Zen downgraded Corebridge Financial from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Barclays boosted their price target on Corebridge Financial from $38.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price target on Corebridge Financial from $34.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their price target 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, BMO Capital Markets boosted their price target on Corebridge Financial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $39.91.

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.