DekaBank Deutsche Girozentrale Has $631,000 Position in Corebridge Financial, Inc. (NYSE:CRBG)

DekaBank Deutsche Girozentrale lessened its position in Corebridge Financial, Inc. (NYSE:CRBG) by 53.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,901 shares of the company’s stock after selling 24,701 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Corebridge Financial were worth $631,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $2,367,000. Mediolanum International Funds Ltd grew its position in Corebridge Financial by 4.2% in the third quarter. Mediolanum International Funds Ltd now owns 228,681 shares of the company’s stock valued at $6,598,000 after purchasing an additional 9,194 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Corebridge Financial by 142.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 112,254 shares of the company’s stock valued at $3,273,000 after buying an additional 65,958 shares during the last quarter. BOCHK Asset Management Ltd bought a new stake in Corebridge Financial during the 3rd quarter worth about $3,266,000. Finally, IFM Investors Pty Ltd boosted its stake in shares of Corebridge Financial by 5.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 41,915 shares of the company’s stock worth $1,222,000 after buying an additional 2,204 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRBG. UBS Group upped their target price on Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Piper Sandler cut their price objective on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Bank of America cut their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Barclays boosted their price objective on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial has an average rating of “Moderate Buy” and an average target price of $34.46.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $31.62 on Friday. The stock has a 50 day simple moving average of $29.38 and a 200 day simple moving average of $29.00. The stock has a market cap of $18.72 billion, a P/E ratio of 9.85, a PEG ratio of 0.44 and a beta of 0.97. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm earned $1.04 earnings per share. Research analysts anticipate that Corebridge Financial, Inc. will post 4.65 earnings per share for the current year.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by insiders.

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.