Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,170 shares of the company’s stock after buying an additional 1,055 shares during the period. MML Investors Services LLC’s holdings in Corebridge Financial were worth $501,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings in Corebridge Financial by 2.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock valued at $305,709,000 after purchasing an additional 284,781 shares during the period. State Street Corp raised its position in Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after purchasing an additional 843,559 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Corebridge Financial by 0.5% in the 2nd quarter. TD Asset Management Inc now owns 7,426,483 shares of the company’s stock valued at $216,259,000 after buying an additional 37,269 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Corebridge Financial by 249.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock worth $183,894,000 after buying an additional 4,507,322 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Corebridge Financial by 13.5% during the third quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after buying an additional 598,373 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Barclays boosted their target price on shares of Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. TD Cowen raised their price target on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler lifted their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.08.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the completion of the transaction, the insider now owns 249,238,898 shares in the company, valued at approximately $7,776,253,617.60. This represents a 10.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company’s stock.

Corebridge Financial Stock Performance

Shares of CRBG opened at $29.66 on Monday. The company’s 50 day simple moving average is $31.24 and its 200-day simple moving average is $29.52. The firm has a market cap of $16.87 billion, a PE ratio of -14.19, a price-to-earnings-growth ratio of 0.39 and a beta of 0.86. Corebridge Financial, Inc. has a 12-month low of $21.40 and a 12-month high of $34.66. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business posted $1.05 earnings per share. Corebridge Financial’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, equities analysts predict that Corebridge Financial, Inc. will post 4.81 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a yield of 3.10%. Corebridge Financial’s payout ratio is -44.02%.

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.