Robeco Institutional Asset Management B.V. Has $25.78 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Robeco Institutional Asset Management B.V. decreased its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 61.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 861,270 shares of the company's stock after selling 1,389,788 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.15% of Corebridge Financial worth $25,778,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CRBG. Nippon Life Insurance Co. bought a new position in Corebridge Financial during the 4th quarter valued at $3,650,151,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Corebridge Financial by 34.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,567,637 shares of the company's stock worth $104,032,000 after purchasing an additional 915,848 shares during the last quarter. 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. FMR LLC increased its holdings in Corebridge Financial by 13.5% in the third quarter. FMR LLC now owns 5,030,104 shares of the company's stock valued at $146,678,000 after buying an additional 598,373 shares during the last quarter. Finally, KBC Group NV raised its stake in Corebridge Financial by 77.9% during the fourth quarter. KBC Group NV now owns 1,222,448 shares of the company's stock valued at $36,588,000 after buying an additional 535,323 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Analysts Set New Price Targets

CRBG has been the subject of a number of research analyst reports. TD Cowen boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target on the stock in a research report on Monday, January 6th. Piper Sandler boosted their price objective on Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. 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 research report on Tuesday, November 5th. Finally, Wells Fargo & Company cut their target price on Corebridge Financial from $37.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Corebridge Financial presently has a consensus rating of "Moderate Buy" and an average target price of $36.43.

Corebridge Financial Price Performance

NYSE:CRBG traded down $1.01 during midday trading on Monday, hitting $32.76. 1,305,709 shares of the stock were exchanged, compared to its average volume of 3,145,440. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of -15.70, a P/E/G ratio of 0.38 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. Corebridge Financial, Inc. has a one year low of $23.01 and a one year high of $34.66. The business has a 50-day moving average price of $31.27 and a two-hundred day moving average price of $29.95.

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, topping 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 for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company's quarterly revenue was up 39.5% compared to the same quarter last year. Sell-side analysts predict that Corebridge Financial, Inc. will post 4.8 EPS 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 value of $3,837,963,376.32. Following the transaction, the insider now owns 127,282,642 shares of the company's stock, valued at approximately $4,005,584,743.74. This represents a 48.93 % 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. 0.08% of the stock is owned by corporate insiders.

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.