Corebridge Financial, Inc. (NYSE:CRBG) Position Boosted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,038 shares of the company's stock after purchasing an additional 16,970 shares during the period. Public Employees Retirement System of Ohio's holdings in Corebridge Financial were worth $4,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. Swedbank AB bought a new position in Corebridge Financial during the 2nd quarter valued at $5,639,000. State Street Corp grew its stake in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company's stock worth $234,313,000 after purchasing an additional 843,559 shares in the last quarter. Senator Investment Group LP increased its holdings in Corebridge Financial by 152.2% in the second quarter. Senator Investment Group LP now owns 1,160,000 shares of the company's stock valued at $33,779,000 after buying an additional 700,000 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Corebridge Financial during the third quarter valued at approximately $2,370,000. Finally, Marshall Wace LLP lifted its holdings in Corebridge Financial by 201.1% during the 2nd quarter. Marshall Wace LLP now owns 4,008,341 shares of the company's stock worth $116,723,000 after buying an additional 2,677,105 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Corebridge Financial Stock Performance

CRBG stock traded up $0.34 during trading on Friday, reaching $30.69. 2,535,801 shares of the company's stock were exchanged, compared to its average volume of 3,962,638. Corebridge Financial, Inc. has a 1-year low of $21.40 and a 1-year high of $34.66. The firm has a market cap of $17.46 billion, a PE ratio of -14.68, a P/E/G ratio of 0.39 and a beta of 0.86. The company's fifty day moving average price is $31.27 and its 200-day moving average price is $29.50. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Corebridge Financial's revenue was up 39.5% compared to the same quarter last year. On average, research analysts expect that Corebridge Financial, Inc. will post 4.81 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial's dividend payout ratio (DPR) is presently -44.02%.

Analysts Set New Price Targets

CRBG has been the topic of several research reports. Barclays upped their price target on Corebridge Financial from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Piper Sandler lowered their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, DOWLING & PARTN lowered Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Four investment 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the company's 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 transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 156,956,256 shares of company stock valued at $4,918,263,376. 0.08% of the stock is owned by 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.