Allspring Global Investments Holdings LLC Has $12.71 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Allspring Global Investments Holdings LLC lowered its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,716 shares of the company's stock after selling 90,873 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Corebridge Financial worth $12,705,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings 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 worth $183,894,000 after buying an additional 4,507,322 shares during the period. Donald Smith & CO. Inc. purchased a new position in shares of Corebridge Financial during the first quarter valued at approximately $89,013,000. Capital Research Global Investors boosted its holdings in Corebridge Financial by 9.9% in the first quarter. Capital Research Global Investors now owns 33,841,160 shares of the company's stock worth $972,257,000 after acquiring an additional 3,059,354 shares in the last quarter. Marshall Wace LLP boosted its stake in Corebridge Financial by 201.1% in the 2nd quarter. Marshall Wace LLP now owns 4,008,341 shares of the company's stock worth $116,723,000 after purchasing an additional 2,677,105 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Corebridge Financial by 150.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company's stock valued at $103,707,000 after buying an additional 2,137,594 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 5,000,000 shares of Corebridge Financial stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by company insiders.

Corebridge Financial Stock Down 1.0 %

Shares of CRBG traded down $0.33 during mid-day trading on Friday, hitting $31.55. 2,362,945 shares of the company's stock were exchanged, compared to its average volume of 3,900,470. The stock's 50-day moving average is $29.01 and its 200-day moving average is $28.82. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 0.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The business 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 earned $1.04 EPS. On average, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.66 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 2.92%. Corebridge Financial's dividend payout ratio is currently 24.21%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America decreased their price objective on shares of Corebridge Financial from $40.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Piper Sandler dropped their price objective on Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on Corebridge Financial from $26.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group increased their price target on shares of Corebridge Financial from $35.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 28th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.46.

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.