81,265 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 81,265 shares of the company’s stock, valued at approximately $2,370,000.

Several other institutional investors have also modified their holdings of the stock. Hancock Whitney Corp raised its position in Corebridge Financial by 1.1% in the 3rd quarter. Hancock Whitney Corp now owns 83,182 shares of the company’s stock worth $2,426,000 after purchasing an additional 922 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Corebridge Financial by 3.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 54,500 shares of the company’s stock worth $1,589,000 after acquiring an additional 1,900 shares during the last quarter. Swedbank AB boosted its holdings in Corebridge Financial by 3.2% during the 3rd quarter. Swedbank AB now owns 199,807 shares of the company’s stock valued at $5,826,000 after acquiring an additional 6,143 shares during the period. Cerity Partners LLC grew its position in Corebridge Financial by 104.4% in the 3rd quarter. Cerity Partners LLC now owns 21,595 shares of the company’s stock valued at $630,000 after acquiring an additional 11,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Corebridge Financial by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,738,163 shares of the company’s stock worth $50,685,000 after purchasing an additional 148,834 shares during the period. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRBG. Morgan Stanley raised 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 note on Tuesday, November 5th. Piper Sandler decreased their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. TD Cowen began coverage on Corebridge Financial in a report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada decreased their target price on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Barclays increased their price target on Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $34.85.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Corebridge Financial Trading Up 0.3 %

NYSE CRBG opened at $31.86 on Tuesday. The company has a fifty day moving average of $30.36 and a 200 day moving average of $29.38. The company has a market capitalization of $18.12 billion, a PE ratio of -15.24, a P/E/G ratio of 0.41 and a beta of 0.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a 1 year low of $20.07 and a 1 year high of $34.66.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating 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 company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business earned $1.05 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. Research analysts forecast that Corebridge Financial, Inc. will post 4.78 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.89%. Corebridge Financial’s dividend payout ratio is currently -44.02%.

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.