Corebridge Financial, Inc. $CRBG Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its position in Corebridge Financial, Inc. (NYSE:CRBG) by 5.3% in the third quarter, HoldingsChannel.com reports. The firm owned 523,523 shares of the company’s stock after selling 29,369 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Corebridge Financial were worth $17,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Corebridge Financial in the 2nd quarter worth $99,469,000. WINTON GROUP Ltd acquired a new stake in shares of Corebridge Financial in the second quarter valued at $1,729,000. Nykredit A S acquired a new stake in shares of Corebridge Financial in the second quarter valued at $1,347,000. Man Group plc bought a new position in Corebridge Financial during the second quarter valued at about $1,089,000. Finally, Public Employees Retirement System of Ohio bought a new position in Corebridge Financial during the second quarter valued at about $2,744,000. 98.25% of the stock is owned by institutional investors.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder Life Insurance Co Nippon purchased 217,182 shares of the stock in a transaction dated Wednesday, October 21st. The shares were acquired at an average price of $35.38 per share, for a total transaction of $7,683,899.16. Following the completion of the acquisition, the insider owned 130,420,666 shares of the company’s stock, valued at $4,614,283,163.08. This represents a 0.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders acquired 8,259,995 shares of company stock valued at $283,393,906 and sold 28,895 shares valued at $983,886. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Piper Sandler upped their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Barclays upped their price target on shares of Corebridge Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, UBS Group lifted their price objective on shares of Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Corebridge Financial Trading Down 4.1%

Corebridge Financial stock opened at $34.15 on Friday. The company has a 50 day moving average price of $33.92 and a 200 day moving average price of $30.59. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $35.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 0.51 and a beta of 1.07.

Corebridge Financial (NYSE:CRBG) last posted 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. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the company posted $1.36 EPS. Research analysts forecast that Corebridge Financial, Inc. will post 4.59 EPS for the current year.

Corebridge Financial Announces Dividend

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

Trending Headlines about Corebridge Financial

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: Major shareholder Nippon Life continued buying CRBG shares. Nippon acquired 217,182 shares for approximately $7.7 million on October 21, following purchases of 193,357 shares for about $6.8 million on October 20 and 162,024 shares for roughly $5.6 million on October 19. The repeated buying signals confidence from a shareholder that now owns more than 130 million shares. SEC ownership filing
• Positive Sentiment: TD Cowen raised its CRBG price target from $38 to $40 and maintained a “Buy” rating. The target increase reinforces the favorable analyst outlook and suggests additional potential upside. TD Cowen raises Corebridge Financial price target
• Positive Sentiment: Other analysts remain constructive. Piper Sandler also set a $40 target with an “Overweight” rating, while Keefe, Bruyette & Woods has a $43 target and “Outperform” rating. The broader consensus is “Moderate Buy,” with an average target of $39.
• Neutral Sentiment: Recent earnings were mixed. Corebridge beat quarterly EPS expectations, reporting $1.12 versus the $1.08 consensus, but revenue of $4.30 billion missed estimates of $4.66 billion and EPS declined from $1.36 a year earlier. These results may temper enthusiasm until the next report.
• Neutral Sentiment: CRBG is trading near its annual high and above its key moving averages. That strong momentum supports the long-term case but may also encourage short-term investors to lock in gains, potentially explaining the recent weakness despite positive insider activity.
• Neutral Sentiment: The $0.25 quarterly dividend remains in place, equating to a $1.00 annualized payout and an approximately 2.8% yield, providing ongoing income support.

Corebridge Financial Profile

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutions through offerings designed to support retirement savings, income planning and financial protection.

Its products and services include individual and group retirement plans, annuities, life insurance and institutional retirement solutions. Corebridge also provides investment and administrative services associated with retirement plans, helping employers and employees manage long-term savings and retirement income needs.

Corebridge was established through the separation of American International Group’s (AIG) Life and Retirement business and began operating as an independent publicly traded company in 2022.