Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP grew its position in Corebridge Financial, Inc. (NYSE:CRBG) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,563,019 shares of the company’s stock after purchasing an additional 76,654 shares during the quarter. Artemis Investment Management LLP owned approximately 0.26% of Corebridge Financial worth $45,578,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CRBG. Vanguard Group Inc. raised its stake in Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock worth $513,626,000 after acquiring an additional 6,648,673 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Corebridge Financial by 106.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock worth $216,831,000 after buying an additional 5,157,570 shares during the period. Canada Pension Plan Investment Board lifted its stake in Corebridge Financial by 249.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock valued at $183,894,000 after buying an additional 4,507,322 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in shares of Corebridge Financial during the first quarter worth approximately $89,013,000. Finally, Capital Research Global Investors boosted its stake in Corebridge Financial by 9.9% during 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 period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley cut their price target on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Royal Bank of Canada reduced their price objective on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Bank of America dropped their target price on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on Corebridge Financial from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average price target of $34.46.

Corebridge Financial Stock Down 1.2 %

NYSE CRBG opened at $29.48 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $34.66. The business has a 50 day moving average price of $27.89 and a two-hundred day moving average price of $28.57. The stock has a market cap of $17.94 billion, a PE ratio of 7.76, a P/E/G ratio of 0.39 and a beta of 0.97.

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 company had revenue of $4.18 billion for the quarter, compared to analyst estimates 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 company posted $1.04 EPS. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 4.73 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Monday, September 16th. Corebridge Financial’s dividend payout ratio is presently 24.21%.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by insiders.

Corebridge Financial 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.