Corebridge Financial, Inc. (CRBG) to Issue Quarterly Dividend of $0.25 on September 30th

Corebridge Financial, Inc. (NYSE:CRBG) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Wednesday, September 16th will be paid a dividend of 0.25 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, September 16th.

Corebridge Financial has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Corebridge Financial to earn $5.77 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 17.3%.

Corebridge Financial Stock Up 0.1%

Shares of Corebridge Financial stock opened at $34.70 on Monday. The business has a 50-day moving average of $32.43 and a 200-day moving average of $28.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $15.47 billion, a PE ratio of 20.29, a P/E/G ratio of 0.45 and a beta of 1.08. Corebridge Financial has a 1-year low of $22.19 and a 1-year high of $35.00.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, equities analysts forecast that Corebridge Financial will post 4.58 EPS for the current fiscal year.

Insider Activity at Corebridge Financial

In related news, EVP Elizabeth Cropper sold 7,745 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $33.06, for a total transaction of $256,049.70. Following the transaction, the executive vice president directly owned 46,473 shares in the company, valued at $1,536,397.38. This trade represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Life Insurance Co Nippon acquired 136,466 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $33.78 per share, with a total value of $4,609,821.48. Following the acquisition, the insider owned 122,125,993 shares of the company’s stock, valued at $4,125,416,043.54. This trade represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 24,409 shares of company stock valued at $805,626. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in shares of Corebridge Financial during the 2nd quarter worth approximately $99,469,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Corebridge Financial during the 4th quarter valued at approximately $5,358,000. BlackRock Inc. acquired a new position in Corebridge Financial during the 2nd quarter valued at approximately $726,494,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Corebridge Financial during the 2nd quarter worth $8,803,000. Finally, WINTON GROUP Ltd acquired a new stake in Corebridge Financial in the second quarter worth $1,729,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers, financial professionals and institutional clients through a range of businesses focused on helping customers build, preserve and receive income from their assets.

Its products and services include individual and group annuities, retirement plan solutions, life insurance and institutional insurance offerings. Corebridge also provides investment, recordkeeping and related administrative services for workplace retirement plans, as well as solutions designed to support financial institutions and other institutional customers.

Corebridge was established through the separation of American International Group’s life and retirement business and began operating as an independent publicly traded company in 2022.