Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC grew its position in Corebridge Financial, Inc. (NYSE:CRBG) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,403 shares of the company’s stock after buying an additional 770 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Corebridge Financial were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank grew its position in Corebridge Financial by 24.9% in the 2nd quarter. Amalgamated Bank now owns 39,998 shares of the company’s stock valued at $1,165,000 after acquiring an additional 7,969 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Corebridge Financial by 144.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 193,617 shares of the company’s stock valued at $5,638,000 after purchasing an additional 114,540 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in Corebridge Financial by 24.1% during the 2nd quarter. Donald Smith & CO. Inc. now owns 3,845,551 shares of the company’s stock worth $111,982,000 after buying an additional 747,290 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Corebridge Financial by 150.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company’s stock worth $103,707,000 after buying an additional 2,137,594 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Corebridge Financial by 2.3% in 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 buying an additional 227,973 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 14,964,738 shares of company stock worth $400,732,195 in the last 90 days. 0.09% of the stock is owned by insiders.

Corebridge Financial Price Performance

Shares of CRBG opened at $28.80 on Wednesday. The firm has a fifty day moving average price of $28.02 and a 200 day moving average price of $28.34. The stock has a market cap of $17.52 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.35 and a beta of 0.97. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. During the same period in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.74 EPS for the current year.

Corebridge Financial Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Jefferies Financial Group increased their price objective on Corebridge Financial from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 28th. 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 report on Tuesday, July 2nd. UBS Group boosted their price objective on Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays assumed coverage on shares of Corebridge Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Bank of America decreased 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. 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, Corebridge Financial currently has an average rating of “Moderate Buy” and a consensus price target of $33.62.

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.