Corebridge Financial Target of Unusually High Options Trading (NYSE:CRBG)

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) saw some unusual options trading activity on Monday. Stock investors bought 14,692 call options on the stock. This is an increase of approximately 532% compared to the typical volume of 2,324 call options.

Corebridge Financial Trading Down 3.3 %

NYSE CRBG traded down $1.10 on Thursday, hitting $32.13. The company's stock had a trading volume of 2,812,232 shares, compared to its average volume of 3,072,773. The firm has a market cap of $17.86 billion, a P/E ratio of 8.50, a PEG ratio of 0.43 and a beta of 0.94. Corebridge Financial has a 52-week low of $23.77 and a 52-week high of $35.36. The company's 50-day simple moving average is $32.25 and its 200 day simple moving average is $30.78. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Research analysts predict that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.99%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is currently 25.40%.

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Insider Activity at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 127,282,642 shares of the company's stock, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corebridge Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Corebridge Financial in the third quarter worth about $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial in the 4th quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in shares of Corebridge Financial in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Corebridge Financial in the third quarter worth $28,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on CRBG shares. Piper Sandler increased their price target on shares of 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 raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $35.00 to $43.00 in a report on Friday, February 28th. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, DOWLING & PARTN downgraded Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.29.

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.