Corebridge Financial, Inc. (NYSE:CRBG) Position Reduced by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 38.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,519 shares of the company's stock after selling 36,462 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Corebridge Financial were worth $1,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRBG. The Manufacturers Life Insurance Company lifted its holdings in shares of Corebridge Financial by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company's stock valued at $625,000 after acquiring an additional 585 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Corebridge Financial by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company's stock worth $650,000 after purchasing an additional 597 shares during the last quarter. Xponance Inc. grew its position in Corebridge Financial by 3.0% during the 2nd quarter. Xponance Inc. now owns 21,037 shares of the company's stock valued at $613,000 after purchasing an additional 612 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Corebridge Financial by 3.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,403 shares of the company's stock valued at $740,000 after buying an additional 770 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Corebridge Financial by 73.2% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company's stock worth $60,000 after buying an additional 877 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of research reports. Royal Bank of Canada reduced their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Morgan Stanley lowered their target price on shares of Corebridge Financial from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. TD Cowen initiated coverage on Corebridge Financial in a research note on Wednesday, October 9th. They set a "buy" rating and a $35.00 target price for the company. Barclays raised their target price on Corebridge Financial from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. Finally, Piper Sandler reduced their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.46.

Corebridge Financial Stock Performance

NYSE CRBG traded down $0.15 on Friday, reaching $31.62. The stock had a trading volume of 2,148,397 shares, compared to its average volume of 3,863,090. The business's 50-day moving average price is $29.32 and its 200 day moving average price is $28.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $18.72 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.44 and a beta of 0.97. 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 posted its quarterly earnings data 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. 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 last year, the firm posted $1.04 earnings per share. As a group, equities analysts expect that Corebridge Financial, Inc. will post 4.65 earnings per share for the current year.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the business's 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 completion of the transaction, the insider now 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 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.