Brentview Investment Management LLC Acquires Shares of 85,254 Corebridge Financial, Inc. (NYSE:CRBG)

Brentview Investment Management LLC purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 85,254 shares of the company's stock, valued at approximately $2,552,000.

Several other institutional investors have also bought and sold shares of CRBG. Point72 Asia Singapore Pte. Ltd. acquired a new position in Corebridge Financial in the third quarter worth $27,000. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the fourth quarter worth $27,000. FNY Investment Advisers LLC acquired a new position in Corebridge Financial in the fourth quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in shares of Corebridge Financial during the third quarter worth $28,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Corebridge Financial during the third quarter valued at $29,000. Institutional investors and hedge funds own 98.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRBG. Morgan Stanley increased their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Piper Sandler increased their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. TD Cowen increased their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Barclays upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price objective on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company cut their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.43.

Corebridge Financial Stock Performance

Corebridge Financial stock traded down $0.01 during midday trading on Thursday, hitting $33.23. The company's stock had a trading volume of 2,869,712 shares, compared to its average volume of 3,133,354. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $18.90 billion, a price-to-earnings ratio of -15.90, a PEG ratio of 0.38 and a beta of 0.94. Corebridge Financial, Inc. has a 1-year low of $23.01 and a 1-year high of $34.66. The company has a 50-day moving average price of $31.32 and a two-hundred day moving average price of $30.02.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.21. The business had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The firm's quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 4.8 earnings per share for the current year.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares in the company, valued at $4,005,584,743.74. This 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 is available at the SEC website. 0.08% of the stock is currently owned by company insiders.

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.