Ensign Peak Advisors Inc trimmed its position in shares of Corebridge Financial, Inc. (NYSE:CRBG – Free Report) by 27.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 700,051 shares of the company’s stock after selling 259,151 shares during the quarter. Ensign Peak Advisors Inc owned about 0.12% of Corebridge Financial worth $20,385,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in Corebridge Financial by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 92,524 shares of the company’s stock worth $2,004,000 after buying an additional 2,828 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Corebridge Financial in the fourth quarter worth about $514,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Corebridge Financial during the fourth quarter worth about $338,000. Corient Private Wealth LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $1,599,000. Finally, Hsbc Holdings PLC raised its position in shares of Corebridge Financial by 604.1% in the 4th quarter. Hsbc Holdings PLC now owns 130,926 shares of the company’s stock valued at $2,833,000 after purchasing an additional 112,330 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Corebridge Financial
In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 14,964,738 shares of company stock valued at $400,732,195 over the last quarter. 0.09% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on CRBG
Corebridge Financial Price Performance
NYSE:CRBG opened at $27.88 on Monday. 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 52 week low of $18.83 and a 52 week high of $34.66. The stock’s 50-day moving average price is $28.04 and its 200-day moving average price is $28.31. The stock has a market capitalization of $16.96 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 0.35 and a beta of 0.97.
Corebridge Financial (NYSE:CRBG – Get Free Report) last released its quarterly 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 for 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 quarter last year, the company earned $1.04 EPS. As a group, equities analysts expect that Corebridge Financial, Inc. will post 4.74 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.23 per share. The ex-dividend date is Monday, September 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.30%. Corebridge Financial’s payout ratio is currently 24.21%.
About Corebridge Financial
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.
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