Intrinsic Value Partners LLC Purchases Shares of 24,400 Corebridge Financial, Inc. (NYSE:CRBG)

Intrinsic Value Partners LLC purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,400 shares of the company's stock, valued at approximately $712,000.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Corebridge Financial in the 3rd quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in Corebridge Financial during the 3rd quarter worth $29,000. HM Payson & Co. bought a new position in shares of Corebridge Financial in the third quarter worth $29,000. LRI Investments LLC bought a new stake in shares of Corebridge Financial during the second quarter valued at about $30,000. Finally, 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 worth $31,000 after purchasing an additional 570 shares during the period. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Up 0.5 %

NYSE CRBG traded up $0.16 on Monday, hitting $30.98. 10,497,456 shares of the stock were exchanged, compared to its average volume of 3,957,695. The company's 50-day moving average price is $29.63 and its two-hundred day moving average price is $29.18. 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 52-week low of $19.09 and a 52-week high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Corebridge Financial's quarterly revenue was up 39.5% on a year-over-year basis. On average, equities research analysts anticipate that Corebridge Financial, Inc. will post 4.74 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a yield of 2.97%. Corebridge Financial's payout ratio is -44.02%.

Analyst Upgrades and Downgrades

CRBG has been the topic of a number of recent analyst reports. TD Cowen started coverage on shares of Corebridge Financial in a research report on Wednesday, October 9th. They set a "buy" rating and a $35.00 price target on the stock. Royal Bank of Canada lowered their price target on Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Piper Sandler cut their price objective on Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Barclays lifted their target price on Corebridge Financial from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Corebridge Financial currently has a consensus rating of "Moderate Buy" and an average target price of $34.85.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company's stock, valued at approximately $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently 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.