Susquehanna Fundamental Investments LLC Acquires 401,038 Shares of Corebridge Financial, Inc. $CRBG

Susquehanna Fundamental Investments LLC boosted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 85.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 871,406 shares of the company's stock after acquiring an additional 401,038 shares during the quarter. Susquehanna Fundamental Investments LLC owned 0.20% of Corebridge Financial worth $24,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC grew its holdings in shares of Corebridge Financial by 133.3% in the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company's stock worth $27,000 after purchasing an additional 520 shares during the last quarter. Bell Investment Advisors Inc bought a new stake in Corebridge Financial during the 2nd quarter valued at about $27,000. Sonoma Allocations LLC purchased a new stake in Corebridge Financial in the 1st quarter valued at about $30,000. Allworth Financial LP bought a new position in Corebridge Financial in the 2nd quarter worth about $41,000. Finally, Versant Capital Management Inc increased its position in shares of Corebridge Financial by 1,124.2% during the second quarter. Versant Capital Management Inc now owns 1,616 shares of the company's stock worth $46,000 after acquiring an additional 1,484 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Price Performance

Shares of CRBG stock opened at $32.60 on Monday. The stock's 50-day moving average is $31.43 and its 200 day moving average is $28.30. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $35.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $14.53 billion, a P/E ratio of 19.06, a PEG ratio of 0.42 and a beta of 1.08.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.36 earnings per share. Research analysts predict that Corebridge Financial, Inc. will post 4.57 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. Corebridge Financial's dividend payout ratio is presently 58.48%.

Insider Buying and Selling at Corebridge Financial

In other news, insider David Ditillo sold 12,414 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $34.00, for a total value of $422,076.00. Following the completion of the sale, the insider owned 111,153 shares of the company's stock, valued at $3,779,202. This trade represents a 10.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth B. Cropper sold 7,745 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $33.06, for a total value of $256,049.70. Following the transaction, the executive vice president owned 46,473 shares in the company, valued at approximately $1,536,397.38. This trade represents a 14.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,409 shares of company stock worth $805,626 over the last ninety days. Corporate insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRBG shares. JPMorgan Chase & Co. lowered their price target on Corebridge Financial from $37.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Wells Fargo & Company lifted their target price on Corebridge Financial from $36.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. TD Cowen increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. UBS Group raised their price target on Corebridge Financial from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Finally, Zacks Research upgraded Corebridge Financial from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.42.

Corebridge Financial Profile

Corebridge Financial NYSE: CRBG is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.

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