Corebridge Financial, Inc. $CRBG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in shares of Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 62.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,188 shares of the company’s stock after selling 116,273 shares during the quarter. QRG Capital Management Inc.’s holdings in Corebridge Financial were worth $2,527,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in shares of Corebridge Financial by 66.7% in the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after acquiring an additional 581 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Corebridge Financial by 1.3% in the second quarter. Wedge Capital Management L L P NC now owns 75,189 shares of the company’s stock valued at $2,669,000 after purchasing an additional 1,000 shares during the period. Rhumbline Advisers raised its position in Corebridge Financial by 0.4% in the first quarter. Rhumbline Advisers now owns 307,352 shares of the company’s stock valued at $9,703,000 after purchasing an additional 1,215 shares during the period. Janney Montgomery Scott LLC raised its position in Corebridge Financial by 3.4% in the first quarter. Janney Montgomery Scott LLC now owns 39,628 shares of the company’s stock valued at $1,251,000 after purchasing an additional 1,287 shares during the period. Finally, State of Wyoming raised its position in Corebridge Financial by 9.7% in the first quarter. State of Wyoming now owns 18,729 shares of the company’s stock valued at $591,000 after purchasing an additional 1,662 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRBG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corebridge Financial in a research note on Saturday, September 27th. UBS Group upgraded Corebridge Financial from a “sell” rating to a “neutral” rating and raised their target price for the company from $28.00 to $37.00 in a report on Friday, July 11th. Wall Street Zen raised shares of Corebridge Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler increased their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Finally, Barclays cut their target price on shares of Corebridge Financial from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.70.

View Our Latest Stock Report on CRBG

Corebridge Financial Price Performance

Corebridge Financial stock opened at $32.42 on Wednesday. The stock has a market cap of $17.45 billion, a P/E ratio of -53.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.02. The company has a fifty day simple moving average of $33.63 and a 200-day simple moving average of $32.55. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $36.57. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.86.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.21. Corebridge Financial had a positive return on equity of 22.06% and a negative net margin of 1.80%.The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm earned $1.13 earnings per share. Equities analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. Corebridge Financial’s dividend payout ratio is -157.38%.

Insider Transactions at Corebridge Financial

In other news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $33.65, for a total transaction of $1,009,500,000.00. Following the completion of the sale, the insider owned 83,896,013 shares in the company, valued at approximately $2,823,100,837.45. The trade was a 26.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.29% of the stock is owned by company insiders.

Corebridge Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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