Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 150.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,561,382 shares of the company’s stock after purchasing an additional 2,137,594 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.59% of Corebridge Financial worth $103,707,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Corebridge Financial by 9.9% in the 1st quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock worth $972,257,000 after purchasing an additional 3,059,354 shares during the last quarter. Vanguard Group Inc. increased its position in Corebridge Financial by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock valued at $721,938,000 after acquiring an additional 1,415,265 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Corebridge Financial by 2.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,199,075 shares of the company’s stock valued at $296,997,000 after acquiring an additional 227,973 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock worth $216,831,000 after acquiring an additional 5,157,570 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of Corebridge Financial by 0.5% in the second quarter. TD Asset Management Inc now owns 7,426,483 shares of the company’s stock worth $216,259,000 after purchasing an additional 37,269 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRBG shares. Jefferies Financial Group lifted their price objective on shares of Corebridge Financial from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Bank of America reduced their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Morgan Stanley lowered their price objective on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Barclays started coverage on Corebridge Financial in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $33.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Corebridge Financial from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.62.

Corebridge Financial Trading Up 0.7 %

Shares of NYSE CRBG opened at $28.80 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial, Inc. has a one year low of $18.83 and a one year high of $34.66. The business has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $28.34. The firm has a market capitalization of $17.52 billion, a PE ratio of 7.58, a PEG ratio of 0.35 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. During the same period last year, the company posted $1.04 earnings per share. As a group, analysts predict that Corebridge Financial, Inc. will post 4.74 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, September 16th. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 5,000,000 shares of Corebridge Financial stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. 0.09% of the stock is owned by insiders.

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.