Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 504,261 shares of the company’s stock after buying an additional 20,783 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.09% of Corebridge Financial worth $15,093,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Nippon Life Insurance Co. purchased a new position in Corebridge Financial during the fourth quarter worth about $3,650,151,000. Massachusetts Financial Services Co. MA boosted its stake in Corebridge Financial by 2.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock worth $305,709,000 after buying an additional 284,781 shares during the period. State Street Corp boosted its stake in Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock worth $234,313,000 after buying an additional 843,559 shares during the period. FMR LLC boosted its stake in Corebridge Financial by 13.5% during the third quarter. FMR LLC now owns 5,030,104 shares of the company’s stock worth $146,678,000 after buying an additional 598,373 shares during the period. Finally, Donald Smith & CO. Inc. boosted its stake in Corebridge Financial by 12.7% during the third quarter. Donald Smith & CO. Inc. now owns 4,335,096 shares of the company’s stock worth $126,411,000 after buying an additional 489,545 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analysts Set New Price Targets

CRBG has been the subject of several research analyst reports. Piper Sandler increased their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.43.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Corebridge Financial Stock Down 1.1 %

Shares of Corebridge Financial stock opened at $32.77 on Thursday. Corebridge Financial, Inc. has a 52-week low of $23.34 and a 52-week high of $34.66. The company has a 50 day moving average of $31.40 and a 200 day moving average of $30.13. 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 has a market capitalization of $18.64 billion, a P/E ratio of -15.68, a P/E/G ratio of 0.37 and a beta of 0.94.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. As a group, research analysts forecast that Corebridge Financial, Inc. will post 4.8 EPS for the current fiscal year.

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.