Swedbank AB Buys 6,143 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Swedbank AB increased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,807 shares of the company’s stock after purchasing an additional 6,143 shares during the quarter. Swedbank AB’s holdings in Corebridge Financial were worth $5,826,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its position in shares of Corebridge Financial by 104.4% during the third quarter. Cerity Partners LLC now owns 21,595 shares of the company’s stock worth $630,000 after purchasing an additional 11,029 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Corebridge Financial by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,738,163 shares of the company’s stock valued at $50,685,000 after buying an additional 148,834 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Corebridge Financial by 2.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock valued at $305,709,000 after buying an additional 284,781 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Corebridge Financial by 28.5% in the third quarter. Ontario Teachers Pension Plan Board now owns 21,739 shares of the company’s stock valued at $634,000 after buying an additional 4,822 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corebridge Financial in the third quarter worth about $4,753,000. Institutional investors own 98.25% of the company’s stock.

Insider Activity

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $31.20, for a total value of $936,000,000.00. Following the transaction, the insider now directly owns 249,238,898 shares in the company, valued at $7,776,253,617.60. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.08% of the company’s stock.

Corebridge Financial Trading Up 1.1 %

Corebridge Financial stock opened at $32.42 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $30.57 and its two-hundred day simple moving average is $29.42. Corebridge Financial, Inc. has a 12 month low of $20.07 and a 12 month high of $34.66. The firm has a market cap of $18.44 billion, a PE ratio of -15.51, a P/E/G ratio of 0.41 and a beta of 0.90.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.21. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The company had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Corebridge Financial’s quarterly revenue was up 39.5% compared to the same quarter last year. Analysts anticipate that Corebridge Financial, Inc. will post 4.78 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial’s dividend payout ratio is presently -44.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRBG shares. TD Cowen increased their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reduced their target price on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler reduced their price objective on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Corebridge Financial Company Profile

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.