SG Americas Securities LLC Has $10.82 Million Holdings in Corebridge Financial, Inc. $CRBG

SG Americas Securities LLC boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 63.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 453,453 shares of the company’s stock after purchasing an additional 176,845 shares during the quarter. SG Americas Securities LLC owned 0.09% of Corebridge Financial worth $10,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Community Bank N.A. acquired a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC raised its position in shares of Corebridge Financial by 179.7% in the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after buying an additional 532 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Corebridge Financial by 133.3% in the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after buying an additional 520 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Corebridge Financial by 50.2% in the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after buying an additional 412 shares during the period. Finally, Clearstead Advisors LLC grew its position in Corebridge Financial by 143.7% during the fourth quarter. Clearstead Advisors LLC now owns 1,667 shares of the company’s stock worth $50,000 after buying an additional 983 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CRBG shares. Piper Sandler lowered their price objective on Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. JPMorgan Chase & Co. reduced their target price on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. UBS Group dropped their price target on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. TD Cowen cut their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Mizuho increased their price objective on shares of Corebridge Financial from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.36.

Corebridge Financial Stock Up 1.7%

NYSE CRBG opened at $28.63 on Friday. The business has a fifty day moving average price of $27.46 and a two-hundred day moving average price of $27.97. The stock has a market capitalization of $12.76 billion, a PE ratio of 52.06, a PEG ratio of 0.31 and a beta of 1.14. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $36.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Equities analysts expect that Corebridge Financial, Inc. will post 4.75 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.5%. Corebridge Financial’s dividend payout ratio (DPR) is 181.82%.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.