B. Metzler seel. Sohn & Co. Holding AG Invests $4.75 Million in Corebridge Financial, Inc. (NYSE:CRBG)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 163,000 shares of the company’s stock, valued at approximately $4,753,000.

Several other hedge funds also recently made changes to their positions in CRBG. Capital Research Global Investors raised its holdings in shares of Corebridge Financial by 9.9% during the first quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock worth $972,257,000 after purchasing an additional 3,059,354 shares during the period. Vanguard Group Inc. raised its stake in Corebridge Financial by 6.0% during the first quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock worth $721,938,000 after acquiring an additional 1,415,265 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Corebridge Financial by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,199,075 shares of the company’s stock worth $296,997,000 after acquiring an additional 227,973 shares during the last quarter. TD Asset Management Inc boosted its stake in Corebridge Financial by 0.5% in the second quarter. TD Asset Management Inc now owns 7,426,483 shares of the company’s stock valued at $216,259,000 after acquiring an additional 37,269 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Corebridge Financial by 249.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock worth $183,894,000 after purchasing an additional 4,507,322 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of Corebridge Financial stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRBG. Royal Bank of Canada cut their price objective on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen began coverage on Corebridge Financial in a research note on Wednesday, October 9th. They set a “buy” rating and a $35.00 target price on the stock. Piper Sandler cut their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Barclays upped their price objective on shares of Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. 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 equities research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.85.

Corebridge Financial Trading Down 1.2 %

NYSE:CRBG opened at $30.43 on Wednesday. The stock has a fifty day simple moving average of $30.03 and a 200 day simple moving average of $29.35. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of -14.56, a price-to-earnings-growth ratio of 0.39 and a beta of 0.90. Corebridge Financial, Inc. has a 1-year low of $19.26 and a 1-year high of $34.66. 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 (NYSE:CRBG) last announced its earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 39.5% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Sell-side analysts forecast that Corebridge Financial, Inc. will post 4.78 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed 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. This represents a $0.92 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Tuesday, December 17th. Corebridge Financial’s payout ratio is -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.