964 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Purchased by Capital Performance Advisors LLP

Capital Performance Advisors LLP purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 964 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in shares of Corebridge Financial in the 3rd quarter worth approximately $29,000. HM Payson & Co. acquired a new position in Corebridge Financial in the third quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Corebridge Financial during the second quarter worth $30,000. ORG Partners LLC acquired a new stake in shares of Corebridge Financial in the second quarter valued at $32,000. Finally, Fifth Third Bancorp bought a new position in shares of Corebridge Financial in the second quarter valued at about $54,000. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Trading Up 0.5 %

NYSE:CRBG opened at $30.98 on Tuesday. 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 $19.09 and a 1-year high of $34.66. The business’s 50-day moving average price is $29.63 and its two-hundred day moving average price is $29.18.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Corebridge Financial’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 EPS. As a group, research analysts expect that Corebridge Financial, Inc. will post 4.74 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 17th. Corebridge Financial’s dividend payout ratio (DPR) is -44.02%.

Insider Activity 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 directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays upped their price objective on Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada lowered their target price on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen initiated coverage on Corebridge Financial in a research report on Wednesday, October 9th. They set a “buy” rating and a $35.00 target price for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.85.

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.