B. Metzler seel. Sohn & Co. Holding AG Buys New Shares in Corebridge Financial, Inc. (NYSE:CRBG)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 163,000 shares of the company's stock, valued at approximately $4,753,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in Corebridge Financial in the 2nd quarter valued at $5,639,000. Diversified Trust Co acquired a new stake in shares of Corebridge Financial in the second quarter valued at about $662,000. QRG Capital Management Inc. raised its holdings in Corebridge Financial by 145.1% during the 2nd quarter. QRG Capital Management Inc. now owns 207,097 shares of the company's stock worth $6,031,000 after purchasing an additional 122,601 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Corebridge Financial during the second quarter worth $1,886,000. Finally, Vanguard Group Inc. lifted its stake in shares of Corebridge Financial by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company's stock valued at $721,938,000 after purchasing an additional 1,415,265 shares during the period. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Stock Up 0.7 %

CRBG stock traded up $0.21 during trading on Wednesday, reaching $30.64. The stock had a trading volume of 4,084,905 shares, compared to its average volume of 3,970,306. 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 $17.43 billion, a price-to-earnings ratio of -14.66, a P/E/G ratio of 0.39 and a beta of 0.90. Corebridge Financial, Inc. has a one year low of $19.54 and a one year high of $34.66. The company's 50 day moving average is $30.10 and its two-hundred day moving average is $29.35.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business posted $1.05 earnings per share. Corebridge Financial's revenue was up 39.5% on a year-over-year basis. Equities research analysts forecast that Corebridge Financial, Inc. will post 4.78 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial's dividend payout ratio is currently -44.02%.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 30,000,000 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the sale, the insider now directly 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 document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CRBG shares. Royal Bank of Canada decreased their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Piper Sandler dropped their price target on Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Barclays raised their price objective on Corebridge Financial from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Morgan Stanley increased their target price on Corebridge Financial from $31.00 to $34.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, TD Cowen initiated coverage on shares of Corebridge Financial in a research note on Wednesday, October 9th. They set a "buy" rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $34.85.

Corebridge Financial Company 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.