AQR Capital Management LLC Buys 1,282,154 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

AQR Capital Management LLC raised its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 40.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,462,933 shares of the company's stock after acquiring an additional 1,282,154 shares during the quarter. AQR Capital Management LLC owned about 0.73% of Corebridge Financial worth $129,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Corebridge Financial by 39.0% in the fourth quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company's stock valued at $513,626,000 after purchasing an additional 6,648,673 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company's stock valued at $216,831,000 after buying an additional 5,157,570 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Corebridge Financial during the fourth quarter valued at about $105,728,000. Canada Pension Plan Investment Board boosted its position in shares of Corebridge Financial by 249.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company's stock valued at $183,894,000 after acquiring an additional 4,507,322 shares during the period. Finally, Donald Smith & CO. Inc. purchased a new position in Corebridge Financial during the first quarter valued at approximately $89,013,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares of the company's stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 14,964,738 shares of company stock valued at $400,732,195 in the last ninety days. Company insiders own 0.09% of the company's stock.

Corebridge Financial Trading Down 0.2 %

Shares of Corebridge Financial stock traded down $0.05 during trading on Friday, reaching $28.90. The company's stock had a trading volume of 2,721,750 shares, compared to its average volume of 4,026,572. 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 52-week low of $18.83 and a 52-week high of $34.66. The firm's 50-day moving average is $27.95 and its two-hundred day moving average is $28.37. The company has a market cap of $17.11 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 0.39 and a beta of 0.97.

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 (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $5.73 billion. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. During the same period in the prior year, the business posted $1.04 earnings per share. On average, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.73 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 annualized dividend and a yield of 3.18%. Corebridge Financial's payout ratio is 24.21%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group increased their target price on shares of Corebridge Financial from $29.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, July 9th. Jefferies Financial Group increased their price objective on Corebridge Financial from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on Corebridge Financial from $26.00 to $34.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 2nd. Bank of America lowered their price target on Corebridge Financial from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. Finally, Royal Bank of Canada cut their price objective on Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.62.

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.