Robeco Institutional Asset Management B.V. Acquires 287,444 Shares of Corebridge Financial, Inc. $CRBG

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 80.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,508 shares of the company's stock after purchasing an additional 287,444 shares during the period. Robeco Institutional Asset Management B.V. owned 0.12% of Corebridge Financial worth $22,880,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted 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 buying an additional 581 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Corebridge Financial during the 1st quarter valued at $75,000. Farther Finance Advisors LLC boosted its stake in Corebridge Financial by 463.4% during the second quarter. Farther Finance Advisors LLC now owns 2,524 shares of the company's stock worth $90,000 after acquiring an additional 2,076 shares in the last quarter. SVB Wealth LLC acquired a new stake in Corebridge Financial in the first quarter worth $85,000. Finally, Headlands Technologies LLC acquired a new stake in Corebridge Financial in the first quarter worth $156,000. Institutional investors and hedge funds own 98.25% of the company's stock.

Corebridge Financial Trading Up 0.4%

Shares of Corebridge Financial stock opened at $32.67 on Friday. The company has a market capitalization of $17.59 billion, a P/E ratio of -53.55, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The stock has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $32.56. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $36.57. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.86.

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 analysts' consensus estimates of $1.15 by $0.21. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.85 billion. Corebridge Financial had a negative net margin of 1.80% and a positive return on equity of 22.06%. During the same period in the previous year, the firm earned $1.13 EPS. On average, sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. Corebridge Financial's dividend payout ratio (DPR) is currently -157.38%.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 30,000,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $33.65, for a total value of $1,009,500,000.00. Following the completion of the transaction, the insider directly owned 83,896,013 shares of the company's stock, valued at $2,823,100,837.45. This represents a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRBG. JPMorgan Chase & Co. upped their price objective on shares of Corebridge Financial from $34.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. BMO Capital Markets increased their price target on Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Barclays decreased their price objective on Corebridge Financial from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, September 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Corebridge Financial in a report on Saturday, September 27th. Finally, Morgan Stanley boosted their price target on shares of Corebridge Financial from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, June 27th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

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.

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