Fiera Capital Corp Grows Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Fiera Capital Corp grew its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,802,735 shares of the company's stock after acquiring an additional 19,771 shares during the quarter. Fiera Capital Corp owned about 0.30% of Corebridge Financial worth $52,496,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CRBG. Rhumbline Advisers lifted its position in Corebridge Financial by 8.8% during the second quarter. Rhumbline Advisers now owns 268,735 shares of the company's stock valued at $7,826,000 after purchasing an additional 21,695 shares during the period. CIBC Asset Management Inc bought a new position in shares of Corebridge Financial during the 2nd quarter valued at $547,000. Convergence Investment Partners LLC bought a new stake in shares of Corebridge Financial in the second quarter worth $2,134,000. Natixis Advisors LLC purchased a new stake in Corebridge Financial during the second quarter valued at $1,543,000. Finally, Van ECK Associates Corp bought a new position in Corebridge Financial in the second quarter valued at about $69,000. 98.25% of the stock is currently owned by institutional investors.

Insider Transactions at Corebridge Financial

In other news, major shareholder International Group American sold 1,932,609 shares of the company's stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the sale, the insider now directly owns 292,271,027 shares of the company's stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

Corebridge Financial Price Performance

CRBG stock traded down $0.74 during midday trading on Tuesday, hitting $28.82. The company's stock had a trading volume of 2,794,612 shares, compared to its average volume of 4,054,057. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial, Inc. has a 12 month low of $17.80 and a 12 month high of $34.66. The company has a 50 day moving average of $28.58 and a two-hundred day moving average of $28.05. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 0.39 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.09 by $0.04. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $5.73 billion. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, analysts expect that Corebridge Financial, Inc. will post 4.75 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.19%. Corebridge Financial's payout ratio is 24.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRBG shares. Bank of America cut their price target on Corebridge Financial from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of Corebridge Financial from $26.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on Corebridge Financial from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, May 10th. Piper Sandler lifted their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group upped their price target on Corebridge Financial from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Corebridge Financial has an average rating of "Moderate Buy" and an average target price of $33.67.

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.