Qsemble Capital Management LP Acquires Shares of 81,265 Corebridge Financial, Inc. (NYSE:CRBG)

Qsemble Capital Management LP bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 81,265 shares of the company's stock, valued at approximately $2,370,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRBG. Canada Pension Plan Investment Board raised its holdings in shares of 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 worth $183,894,000 after buying an additional 4,507,322 shares during the last quarter. Marshall Wace LLP raised its stake in Corebridge Financial by 201.1% in the 2nd quarter. Marshall Wace LLP now owns 4,008,341 shares of the company's stock worth $116,723,000 after acquiring an additional 2,677,105 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Corebridge Financial by 150.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company's stock worth $103,707,000 after acquiring an additional 2,137,594 shares during the last quarter. AQR Capital Management LLC lifted its position in Corebridge Financial by 40.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,462,933 shares of the company's stock worth $129,961,000 after acquiring an additional 1,282,154 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Corebridge Financial by 158.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,445,594 shares of the company's stock valued at $42,096,000 after purchasing an additional 886,794 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $31.20, for a total value of $936,000,000.00. Following the completion of the transaction, the insider now directly owns 249,238,898 shares of the company's stock, valued at approximately $7,776,253,617.60. This represents a 10.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CRBG shares. Barclays lifted their target price on Corebridge Financial from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Piper Sandler cut 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 note on Wednesday, October 2nd. Royal Bank of Canada decreased their target price 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. Finally, TD Cowen began coverage on Corebridge Financial in a research report on Wednesday, October 9th. They set a "buy" rating and a $35.00 price target on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $34.85.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded up $0.19 on Tuesday, hitting $32.05. The company's stock had a trading volume of 3,502,549 shares, compared to its average volume of 3,993,511. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of -15.33, a price-to-earnings-growth ratio of 0.41 and a beta of 0.90. The firm has a fifty day moving average price of $30.46 and a 200-day moving average price of $29.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a 1 year low of $20.07 and a 1 year high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.21. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The business had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The business's revenue was up 39.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.78 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, December 17th. Corebridge Financial's payout ratio is -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.