Donald Smith & CO. Inc. Has $126.41 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

Donald Smith & CO. Inc. boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,335,096 shares of the company's stock after acquiring an additional 489,545 shares during the period. Corebridge Financial accounts for about 3.0% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 12th largest position. Donald Smith & CO. Inc. owned about 0.71% of Corebridge Financial worth $126,411,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB acquired a new position in Corebridge Financial in the 2nd quarter valued at approximately $5,639,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Corebridge Financial during the 1st quarter worth approximately $1,134,000. Russell Investments Group Ltd. lifted its holdings in shares of Corebridge Financial by 30.1% during the 1st quarter. Russell Investments Group Ltd. now owns 697,825 shares of the company's stock worth $19,990,000 after acquiring an additional 161,247 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Corebridge Financial during the 1st quarter valued at $16,489,000. Finally, Forsta AP Fonden acquired a new position in Corebridge Financial in the first quarter valued at $1,979,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRBG has been the subject of several research analyst reports. Barclays raised their price objective on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Bank of America decreased their target price on shares of Corebridge Financial from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. UBS Group lifted 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. Morgan Stanley cut their price objective on Corebridge Financial from $33.00 to $31.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Finally, 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 note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.46.

Corebridge Financial Trading Up 0.2 %

Shares of CRBG traded up $0.08 during mid-day trading on Wednesday, reaching $32.08. 1,934,701 shares of the company's stock traded hands, compared to its average volume of 3,876,579. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $18.99 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.42 and a beta of 0.97. The stock's 50-day moving average is $29.17 and its two-hundred day moving average is $28.91. Corebridge Financial, Inc. has a 12 month low of $18.83 and a 12 month high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The business had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $5.73 billion. During the same period in the previous year, the company earned $1.04 EPS. Research analysts forecast that Corebridge Financial, Inc. will post 4.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

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.