Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its stake in Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 61.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 861,270 shares of the company’s stock after selling 1,389,788 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Corebridge Financial were worth $25,778,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Nippon Life Insurance Co. bought a new position in Corebridge Financial during the 4th quarter worth $3,650,151,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Corebridge Financial by 2.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock valued at $305,709,000 after acquiring an additional 284,781 shares during the period. State Street Corp grew its position in shares of Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after acquiring an additional 843,559 shares during the last quarter. FMR LLC increased its holdings in shares of Corebridge Financial by 13.5% in the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after acquiring an additional 598,373 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in Corebridge Financial by 12.7% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,335,096 shares of the company’s stock valued at $126,411,000 after purchasing an additional 489,545 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRBG shares. BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Piper Sandler raised their price target on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.43.

View Our Latest Stock Analysis on CRBG

Insider Activity

In other news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

Corebridge Financial Trading Down 0.0 %

Shares of NYSE CRBG opened at $34.11 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. Corebridge Financial, Inc. has a 12 month low of $23.01 and a 12 month high of $34.66. The company has a market cap of $19.41 billion, a price-to-earnings ratio of -16.32, a P/E/G ratio of 0.36 and a beta of 0.92. The business has a fifty day simple moving average of $31.18 and a 200-day simple moving average of $29.89.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. Sell-side analysts predict that Corebridge Financial, Inc. will post 4.8 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, December 17th. Corebridge Financial’s dividend payout ratio (DPR) is currently -44.02%.

Corebridge Financial Profile

(Free Report)

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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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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