Forsta AP Fonden Acquires Shares of 57,900 Corebridge Financial, Inc. (NYSE:CRBG)

Forsta AP Fonden acquired a new position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 57,900 shares of the company's stock, valued at approximately $1,733,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRBG. Covestor Ltd lifted its holdings in Corebridge Financial by 118.8% in the third quarter. Covestor Ltd now owns 1,050 shares of the company's stock valued at $31,000 after acquiring an additional 570 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Corebridge Financial by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company's stock worth $625,000 after purchasing an additional 585 shares during the period. Blue Trust Inc. boosted its holdings in shares of Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after buying an additional 729 shares during the last quarter. CIBC Asset Management Inc grew its position in Corebridge Financial by 4.2% during the third quarter. CIBC Asset Management Inc now owns 19,579 shares of the company's stock valued at $571,000 after buying an additional 793 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in Corebridge Financial by 43.1% during the third quarter. Deseret Mutual Benefit Administrators now owns 2,969 shares of the company's stock valued at $87,000 after buying an additional 894 shares during the last quarter. 98.25% of the stock is owned by institutional investors.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the transaction, the insider now directly owns 127,282,642 shares of the company's stock, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Corebridge Financial Price Performance

Shares of CRBG stock traded down $0.01 during mid-day trading on Thursday, hitting $33.23. The company 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 stock's 50 day moving average price is $31.32 and its 200-day moving average price is $30.02. Corebridge Financial, Inc. has a 52-week low of $23.01 and a 52-week high of $34.66. The company has a market capitalization of $18.90 billion, a P/E ratio of -15.90, a P/E/G ratio of 0.38 and a beta of 0.94.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on CRBG shares. Morgan Stanley lifted 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 note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on Corebridge Financial from $37.00 to $35.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a research report on Monday, January 6th. BMO Capital Markets started coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective on the stock. Finally, DOWLING & PARTN lowered shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.43.

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.