Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,354 shares of the company’s stock after selling 1,165 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Corebridge Financial were worth $1,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Corebridge Financial by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock valued at $625,000 after purchasing an additional 585 shares during the period. CWM LLC increased its holdings in Corebridge Financial by 99.5% during the third quarter. CWM LLC now owns 17,476 shares of the company’s stock valued at $510,000 after buying an additional 8,714 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Corebridge Financial by 320.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,100 shares of the company’s stock worth $61,000 after buying an additional 1,600 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Corebridge Financial by 4.0% during the third quarter. Exchange Traded Concepts LLC now owns 87,489 shares of the company’s stock worth $2,551,000 after buying an additional 3,381 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in Corebridge Financial during the 3rd quarter valued at $29,000. 98.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.43.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Corebridge Financial Trading Down 1.0 %

Corebridge Financial stock opened at $33.12 on Tuesday. The stock has a 50-day moving average price of $31.36 and a 200 day moving average price of $30.08. The company has a market capitalization of $18.84 billion, a price-to-earnings ratio of -15.84, a price-to-earnings-growth ratio of 0.37 and a beta of 0.94. Corebridge Financial, Inc. has a 52 week low of $23.34 and a 52 week high of $34.66. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83.

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.