Healthcare of Ontario Pension Plan Trust Fund Has $1.09 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Healthcare of Ontario Pension Plan Trust Fund increased its position in Corebridge Financial, Inc. (NYSE:CRBG) by 718.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,525 shares of the company’s stock after buying an additional 32,940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Corebridge Financial were worth $1,093,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CRBG. Vanguard Group Inc. grew its stake in shares of Corebridge Financial by 39.0% in the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock valued at $513,626,000 after buying an additional 6,648,673 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Corebridge Financial by 106.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock valued at $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 in the 4th quarter valued at about $105,728,000. Canada Pension Plan Investment Board grew 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 buying an additional 4,507,322 shares during the period. Finally, Donald Smith & CO. Inc. bought a new position in Corebridge Financial in the 1st quarter valued at about $89,013,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $29.85 on Tuesday. Corebridge Financial, Inc. has a 12 month low of $18.83 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 0.97. The business’s 50 day simple moving average is $27.89 and its 200 day simple moving average is $28.55. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 0.39 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. Sell-side analysts forecast that Corebridge Financial, Inc. will post 4.73 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.23 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.92 annualized dividend and a yield of 3.08%. Corebridge Financial’s payout ratio is 24.21%.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the business’s 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 owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRBG. Bank of America dropped their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Morgan Stanley dropped their price target on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Corebridge Financial from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada dropped their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Piper Sandler dropped their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

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.