PEAK6 LLC Purchases Shares of 143,970 Corebridge Financial, Inc. $CRBG

PEAK6 LLC purchased a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 143,970 shares of the company’s stock, valued at approximately $4,122,000.

Several other institutional investors have also recently made changes to their positions in CRBG. Goldman Sachs Group Inc. raised its position in shares of Corebridge Financial by 229.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after buying an additional 905,918 shares in the last quarter. Focus Partners Wealth purchased a new position in Corebridge Financial during the first quarter worth about $384,000. Creative Planning purchased a new position in Corebridge Financial during the second quarter worth about $243,000. EverSource Wealth Advisors LLC increased its stake in Corebridge Financial by 58.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company’s stock worth $162,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Corebridge Financial by 64.4% in the 2nd quarter. Cerity Partners LLC now owns 92,554 shares of the company’s stock worth $3,286,000 after acquiring an additional 36,239 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.1%

NYSE CRBG opened at $31.91 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $31.13 and its two-hundred day simple moving average is $28.24. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $35.22. The company has a market capitalization of $14.22 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 0.41 and a beta of 1.08.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $4.30 billion during 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 period in the prior year, the business earned $1.36 EPS. Research analysts forecast that Corebridge Financial, Inc. will post 4.6 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. Corebridge Financial’s payout ratio is presently 58.48%.

Analysts Set New Price Targets

CRBG has been the subject of a number of research analyst reports. Weiss Ratings upgraded Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Barclays upped their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lowered their target price on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Piper Sandler lifted their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, insider David Ditillo sold 12,414 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $34.00, for a total value of $422,076.00. Following the completion of the sale, the insider owned 111,153 shares of the company’s stock, valued at $3,779,202. This represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth B. Cropper sold 7,745 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $33.06, for a total transaction of $256,049.70. Following the transaction, the executive vice president owned 46,473 shares in the company, valued at $1,536,397.38. The trade was a 14.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,409 shares of company stock valued at $805,626. 0.32% of the stock is owned by insiders.

Corebridge Financial Company Profile

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.