Sei Investments Co. Has $12.94 Million Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Sei Investments Co. grew its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 444,325 shares of the company’s stock after acquiring an additional 24,784 shares during the period. Sei Investments Co. owned 0.07% of Corebridge Financial worth $12,939,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock valued at $513,626,000 after purchasing an additional 6,648,673 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock worth $216,831,000 after buying an additional 5,157,570 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth approximately $105,728,000. Canada Pension Plan Investment Board increased its stake in shares of Corebridge Financial by 249.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock valued at $183,894,000 after acquiring an additional 4,507,322 shares in the last quarter. Finally, Donald Smith & CO. Inc. acquired a new position in shares of Corebridge Financial during the 1st quarter valued at $89,013,000. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Down 0.2 %

Corebridge Financial stock opened at $28.90 on Friday. Corebridge Financial, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $34.66. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s 50-day simple moving average is $27.95 and its 200 day simple moving average is $28.40. The stock has a market cap of $17.11 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 0.39 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $5.73 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. During the same quarter in the previous year, the business earned $1.04 EPS. Research analysts predict that Corebridge Financial, Inc. will post 4.73 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Monday, September 16th. Corebridge Financial’s dividend payout ratio is presently 24.21%.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 14,964,738 shares of company stock worth $400,732,195 in the last ninety days. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several research analyst reports. Barclays initiated coverage on shares of Corebridge Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $33.00 price target for the company. Jefferies Financial Group upped their price target on Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada decreased their price objective on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on Corebridge Financial from $26.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Bank of America decreased their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.62.

About Corebridge Financial

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.