Savant Capital LLC Has $3.52 Million Stock Holdings in Corebridge Financial, Inc. $CRBG

Savant Capital LLC raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 52.4% in the 2nd quarter, Holdings Channel reports. The firm owned 99,136 shares of the company’s stock after acquiring an additional 34,076 shares during the period. Savant Capital LLC’s holdings in Corebridge Financial were worth $3,519,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of Corebridge Financial by 1,223.6% in the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after purchasing an additional 673 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock worth $33,000 after buying an additional 356 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Corebridge Financial by 86.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock worth $46,000 after buying an additional 603 shares during the last quarter. Brooklyn Investment Group boosted its stake in Corebridge Financial by 66.7% in the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock valued at $46,000 after buying an additional 581 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Corebridge Financial by 2,750.6% in the second quarter. Golden State Wealth Management LLC now owns 2,195 shares of the company’s stock valued at $78,000 after buying an additional 2,118 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 1,184,160 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $33.65, for a total transaction of $39,846,984.00. Following the completion of the transaction, the insider directly owned 82,711,853 shares in the company, valued at $2,783,253,853.45. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen raised Corebridge Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Morgan Stanley decreased their price target on shares of Corebridge Financial from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Friday. Wolfe Research assumed coverage on shares of Corebridge Financial in a research report on Friday, October 10th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Corebridge Financial from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and an average target price of $39.73.

Corebridge Financial Trading Down 0.0%

Shares of NYSE CRBG opened at $29.90 on Monday. The firm has a 50 day moving average price of $32.34 and a two-hundred day moving average price of $33.04. The stock has a market cap of $15.56 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 0.43 and a beta of 1.02. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.12). The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $4.85 billion. Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 EPS. As a group, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 17th. Corebridge Financial’s payout ratio is 57.14%.

About Corebridge Financial

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.