Corebridge Financial, Inc. $CRBG Stock Holdings Increased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC raised its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 7.2% during the 2nd quarter, Holdings Channel reports. The fund owned 9,883 shares of the company’s stock after purchasing an additional 663 shares during the period. 3Chopt Investment Partners LLC’s holdings in Corebridge Financial were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in Corebridge Financial by 1,223.6% during the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after acquiring an additional 673 shares in the last quarter. Brooklyn Investment Group raised its stake in Corebridge Financial by 66.7% during the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock valued at $46,000 after acquiring an additional 581 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Corebridge Financial during the 1st quarter valued at $75,000. Farther Finance Advisors LLC raised its stake in Corebridge Financial by 463.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,524 shares of the company’s stock valued at $90,000 after acquiring an additional 2,076 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in Corebridge Financial during the 1st quarter valued at $85,000. Institutional investors own 98.25% of the company’s stock.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $33.65, for a total transaction of $1,009,500,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $31.29 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of -51.29, a PEG ratio of 0.56 and a beta of 1.02. The stock’s fifty day simple moving average is $33.44 and its 200 day simple moving average is $32.53. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.57.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.21. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Corebridge Financial had a positive return on equity of 22.06% and a negative net margin of 1.80%.During the same period in the previous year, the firm posted $1.13 EPS. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.24 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Corebridge Financial’s payout ratio is currently -157.38%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CRBG shares. Morgan Stanley dropped their price objective on Corebridge Financial from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company boosted their price objective on Corebridge Financial from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays dropped their price objective on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wall Street Zen raised Corebridge Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Evercore ISI dropped their price objective on Corebridge Financial from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Thursday. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average price target of $39.91.

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.