GSA Capital Partners LLP Has $381,000 Stake in Corebridge Financial, Inc. (NYSE:CRBG)

GSA Capital Partners LLP decreased its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 75.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,072 shares of the company’s stock after selling 39,553 shares during the quarter. GSA Capital Partners LLP’s holdings in Corebridge Financial were worth $381,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Corebridge Financial by 6.0% during the first quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock worth $721,938,000 after buying an additional 1,415,265 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Corebridge Financial by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,511 shares of the company’s stock valued at $503,000 after purchasing an additional 978 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in Corebridge Financial in the first quarter valued at $103,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Corebridge Financial in the 1st quarter worth approximately $132,000. Finally, Toronto Dominion Bank acquired a new stake in Corebridge Financial during the first quarter worth approximately $646,000. Institutional investors own 98.25% of the company’s stock.

Insider Activity

In related news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the transaction, the insider now owns 249,238,898 shares in the company, valued at approximately $7,776,253,617.60. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRBG shares. Barclays boosted their price objective on Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. TD Cowen assumed coverage on shares of Corebridge Financial in a research report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada lowered their price objective on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley upped their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.85.

Corebridge Financial Stock Up 2.7 %

Shares of Corebridge Financial stock opened at $31.47 on Friday. Corebridge Financial, Inc. has a twelve month low of $19.90 and a twelve month high of $34.66. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $30.18 and its 200 day moving average is $29.37. The company has a market cap of $17.90 billion, a price-to-earnings ratio of -15.06, a price-to-earnings-growth ratio of 0.39 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, beating the consensus estimate of $1.17 by $0.21. The firm had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The company’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. Research analysts anticipate that Corebridge Financial, Inc. will post 4.78 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial’s payout ratio is currently -44.02%.

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.