WINTON GROUP Ltd Purchases Shares of 60,393 Corebridge Financial, Inc. $CRBG

WINTON GROUP Ltd purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG) during the second quarter, HoldingsChannel.com reports. The fund purchased 60,393 shares of the company’s stock, valued at approximately $1,729,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pzena Investment Management LLC bought a new stake in shares of Corebridge Financial during the 2nd quarter worth $967,400,000. BlackRock Inc. bought a new position in Corebridge Financial in the 2nd quarter worth $726,494,000. Norges Bank acquired a new position in Corebridge Financial during the 4th quarter worth $611,550,000. State Street Corp lifted its position in Corebridge Financial by 44.3% during the 4th quarter. State Street Corp now owns 11,295,692 shares of the company’s stock worth $340,791,000 after acquiring an additional 3,465,371 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Corebridge Financial by 1,961.1% during the second quarter. California State Teachers Retirement System now owns 10,448,576 shares of the company’s stock valued at $299,143,000 after acquiring an additional 9,941,626 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Elizabeth B. Cropper sold 7,745 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $33.06, for a total value of $256,049.70. Following the completion of the transaction, the executive vice president owned 46,473 shares in the company, valued at approximately $1,536,397.38. This represents a 14.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Life Insurance Co Nippon acquired 136,466 shares of Corebridge Financial stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $33.78 per share, with a total value of $4,609,821.48. Following the completion of the acquisition, the insider directly owned 122,125,993 shares in the company, valued at $4,125,416,043.54. This trade represents a 0.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 24,409 shares of company stock worth $805,626 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Corebridge Financial Trading Up 1.5%

Corebridge Financial stock opened at $34.70 on Friday. The business has a 50 day moving average price of $32.43 and a two-hundred day moving average price of $28.53. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.08. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $35.00.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.During the same quarter last year, the firm earned $1.36 EPS. As a group, equities analysts forecast that Corebridge Financial, Inc. will post 4.58 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is 58.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRBG shares. Barclays raised their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. TD Cowen increased their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler upped their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.42.

About Corebridge Financial

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers, financial professionals and institutional clients through a range of businesses focused on helping customers build, preserve and receive income from their assets.

Its products and services include individual and group annuities, retirement plan solutions, life insurance and institutional insurance offerings. Corebridge also provides investment, recordkeeping and related administrative services for workplace retirement plans, as well as solutions designed to support financial institutions and other institutional customers.

Corebridge was established through the separation of American International Group’s life and retirement business and began operating as an independent publicly traded company in 2022.