TD Asset Management Inc Purchases 37,269 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

TD Asset Management Inc increased its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,426,483 shares of the company's stock after purchasing an additional 37,269 shares during the quarter. TD Asset Management Inc owned approximately 1.22% of Corebridge Financial worth $216,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in shares of Corebridge Financial in the first quarter worth about $25,000. LRI Investments LLC bought a new stake in Corebridge Financial in the 2nd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in shares of Corebridge Financial during the 2nd quarter worth approximately $32,000. Vestor Capital LLC bought a new position in shares of Corebridge Financial during the 4th quarter valued at approximately $43,000. Finally, Fifth Third Bancorp purchased a new position in shares of Corebridge Financial in the second quarter valued at $54,000. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Down 3.0 %

CRBG traded down $0.82 on Friday, reaching $26.81. 4,251,031 shares of the company traded hands, compared to its average volume of 4,060,804. The company has a market cap of $16.31 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 0.39 and a beta of 0.97. 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 one year low of $17.80 and a one year high of $34.66. The firm has a fifty day simple moving average of $28.52 and a two-hundred day simple moving average of $28.07.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The firm had revenue of $4.18 billion during 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 posted $1.04 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.75 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 3.43%. Corebridge Financial's dividend payout ratio is currently 24.21%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRBG. Bank of America decreased their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada dropped their price target on Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Barclays started coverage on Corebridge Financial in a research report on Wednesday. They set an "equal weight" rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Corebridge Financial from $26.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company increased their price target on Corebridge Financial from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.62.

Insider Activity at Corebridge Financial

In other news, major shareholder International Group American sold 8,032,129 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company's stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Corebridge Financial 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.