Tidal Investments LLC Increases Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Tidal Investments LLC boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 38.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,780 shares of the company’s stock after buying an additional 8,751 shares during the period. Tidal Investments LLC’s holdings in Corebridge Financial were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Covestor Ltd lifted its holdings in shares of Corebridge Financial by 118.8% in the third quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after buying an additional 570 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Corebridge Financial by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock worth $625,000 after acquiring an additional 585 shares during the period. Commonwealth Equity Services LLC lifted its stake in Corebridge Financial by 2.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company’s stock worth $650,000 after purchasing an additional 597 shares in the last quarter. Xponance Inc. boosted its holdings in Corebridge Financial by 3.0% in the 2nd quarter. Xponance Inc. now owns 21,037 shares of the company’s stock valued at $613,000 after purchasing an additional 612 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Corebridge Financial by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,403 shares of the company’s stock valued at $740,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $31.20, for a total value of $936,000,000.00. Following the transaction, the insider now owns 249,238,898 shares in the company, valued at approximately $7,776,253,617.60. The trade was a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRBG. Piper Sandler increased their price objective on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays raised their price target on Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price objective on Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, DOWLING & PARTN cut shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average target price of $35.08.

Corebridge Financial Trading Up 2.0 %

Shares of CRBG opened at $29.66 on Friday. Corebridge Financial, Inc. has a fifty-two week low of $21.40 and a fifty-two week high of $34.66. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of -14.19, a PEG ratio of 0.39 and a beta of 0.86. The firm has a 50 day moving average price of $31.24 and a 200-day moving average price of $29.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts forecast that Corebridge Financial, Inc. will post 4.81 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 3.10%. Corebridge Financial’s payout ratio is -44.02%.

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.