6,950 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,950 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB purchased a new stake in Corebridge Financial during the second quarter worth approximately $5,639,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Corebridge Financial during the first quarter worth approximately $1,134,000. Russell Investments Group Ltd. grew its stake in Corebridge Financial by 30.1% during the first quarter. Russell Investments Group Ltd. now owns 697,825 shares of the company’s stock worth $19,990,000 after buying an additional 161,247 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Corebridge Financial during the first quarter worth approximately $16,489,000. Finally, Forsta AP Fonden purchased a new stake in Corebridge Financial during the first quarter worth approximately $1,979,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRBG shares. Morgan Stanley decreased their price objective on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Bank of America decreased their target price 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. Piper Sandler decreased their target price on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, UBS Group upped their target price on shares of Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.46.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Corebridge Financial Trading Down 0.5 %

NYSE CRBG opened at $31.62 on Friday. Corebridge Financial, Inc. has a 12 month low of $18.83 and a 12 month high of $34.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.44 and a beta of 0.97. The company’s fifty day moving average price is $29.38 and its two-hundred day moving average price is $28.98.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the firm posted $1.04 EPS. As a group, research analysts predict that Corebridge Financial, Inc. will post 4.65 earnings per share for the current fiscal year.

Corebridge Financial Company 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.