41,147 Shares in Corebridge Financial, Inc. $CRBG Bought by Redwood Investment Management LLC

Redwood Investment Management LLC acquired a new position in Corebridge Financial, Inc. (NYSE:CRBG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,147 shares of the company’s stock, valued at approximately $1,178,000.

Several other large investors have also recently made changes to their positions in the business. Pzena Investment Management LLC bought a new stake in Corebridge Financial in the second quarter worth about $967,400,000. BlackRock Inc. bought a new stake in shares of Corebridge Financial in the 2nd quarter worth approximately $726,494,000. Norges Bank bought a new stake in shares of Corebridge Financial in the 4th quarter worth approximately $611,550,000. Donald Smith & CO. Inc. purchased a new position in Corebridge Financial in the second quarter valued at approximately $168,134,000. Finally, Davis Asset Management L.P. bought a new position in Corebridge Financial during the second quarter valued at $166,054,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of recent research reports. Mizuho raised their target price on Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. TD Cowen increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price objective on Corebridge Financial from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Corebridge Financial Price Performance

CRBG stock opened at $32.53 on Thursday. The firm has a 50 day moving average of $31.30 and a 200-day moving average of $28.28. The firm has a market capitalization of $14.50 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $35.22. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 4.57 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. Corebridge Financial’s dividend payout ratio is presently 58.48%.

Insider Buying and Selling at Corebridge Financial

In related news, EVP Elizabeth B. Cropper sold 7,745 shares of Corebridge Financial stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $33.06, for a total transaction of $256,049.70. Following the completion of the sale, the executive vice president owned 46,473 shares of the company’s stock, valued at approximately $1,536,397.38. This trade represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Ditillo sold 12,414 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.00, for a total value of $422,076.00. Following the transaction, the insider owned 111,153 shares of the company’s stock, valued at approximately $3,779,202. The trade was a 10.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 24,409 shares of company stock worth $805,626. Insiders own 0.32% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.