Diversified Trust Co Purchases 36,651 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Diversified Trust Co lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 128.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,167 shares of the company's stock after buying an additional 36,651 shares during the quarter. Diversified Trust Co's holdings in Corebridge Financial were worth $1,950,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new position in shares of Corebridge Financial in the 4th quarter valued at approximately $437,000. Franklin Resources Inc. raised its position in Corebridge Financial by 68.6% during the third quarter. Franklin Resources Inc. now owns 423,654 shares of the company's stock valued at $12,981,000 after purchasing an additional 172,397 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Corebridge Financial by 38.0% in the 3rd quarter. Tidal Investments LLC now owns 31,780 shares of the company's stock valued at $927,000 after purchasing an additional 8,751 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Corebridge Financial during the 3rd quarter worth $683,000. Finally, Virtu Financial LLC bought a new stake in shares of Corebridge Financial during the 3rd quarter worth $581,000. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Up 0.2 %

Shares of CRBG traded up $0.07 during mid-day trading on Wednesday, reaching $31.35. 2,642,399 shares of the company were exchanged, compared to its average volume of 2,598,500. The business has a 50 day simple moving average of $30.95 and a two-hundred day simple moving average of $29.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $17.83 billion, a PE ratio of -15.00, a PEG ratio of 0.39 and a beta of 0.92. Corebridge Financial, Inc. has a 52 week low of $23.01 and a 52 week high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business earned $1.05 EPS. The company's revenue was up 39.5% compared to the same quarter last year. On average, analysts predict that Corebridge Financial, Inc. will post 4.81 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a yield of 2.93%. Corebridge Financial's payout ratio is currently -44.02%.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

CRBG has been the subject of several research analyst reports. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a research note on Monday. DOWLING & PARTN downgraded shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Piper Sandler raised their target price 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 upped their price target on shares of 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 raised their price objective on Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Corebridge Financial has an average rating of "Moderate Buy" and an average target price of $35.15.

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.