Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,225 shares of the company’s stock after buying an additional 6,473 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Corebridge Financial were worth $2,077,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Corebridge Financial by 60.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 830,102 shares of the company’s stock worth $17,980,000 after purchasing an additional 312,539 shares during the period. Wellington Management Group LLP increased its stake in Corebridge Financial by 14,292.5% during the 4th quarter. Wellington Management Group LLP now owns 2,459,820 shares of the company’s stock worth $53,280,000 after buying an additional 2,442,729 shares during the period. Vanguard Group Inc. lifted its holdings in Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock worth $513,626,000 after buying an additional 6,648,673 shares in the last quarter. Quadrature Capital Ltd boosted its position in Corebridge Financial by 89.1% in the 4th quarter. Quadrature Capital Ltd now owns 82,815 shares of the company’s stock valued at $1,794,000 after buying an additional 39,021 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of Corebridge Financial in the first quarter worth $284,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Up 1.6 %

Shares of NYSE:CRBG opened at $31.06 on Thursday. 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 firm has a 50 day simple moving average of $28.36 and a 200-day simple moving average of $28.66. The company has a market capitalization of $18.90 billion, a PE ratio of 8.17, a P/E/G ratio of 0.42 and a beta of 0.97. Corebridge Financial, Inc. has a twelve month low of $18.83 and a twelve month high of $34.66.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates 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 last year, the company posted $1.04 earnings per share. On average, equities analysts predict that Corebridge Financial, Inc. will post 4.66 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Monday, September 16th. Corebridge Financial’s dividend payout ratio is presently 24.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRBG. JPMorgan Chase & Co. increased their price objective on Corebridge Financial from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group lifted their price objective on Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. TD Cowen assumed coverage on shares of Corebridge Financial in a research note on Wednesday, October 9th. They set a “buy” rating and a $35.00 target price on the stock. Bank of America reduced their target price on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Piper Sandler lowered their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.46.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

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.