Catalyst Capital Advisors LLC Acquires 21,790 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Catalyst Capital Advisors LLC boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 30.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 92,790 shares of the company's stock after acquiring an additional 21,790 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Corebridge Financial were worth $2,706,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new position in shares of Corebridge Financial during the third quarter worth about $29,000. ORG Wealth Partners LLC purchased a new position in shares of Corebridge Financial in the third quarter valued at $29,000. LRI Investments LLC purchased a new stake in Corebridge Financial during the 2nd quarter worth about $30,000. ORG Partners LLC acquired a new stake in Corebridge Financial in the 2nd quarter worth about $32,000. Finally, Fifth Third Bancorp acquired a new position in shares of Corebridge Financial in the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG traded down $1.57 during trading on Tuesday, hitting $29.99. The company had a trading volume of 6,011,918 shares, compared to its average volume of 3,867,086. The stock has a 50 day simple moving average of $29.46 and a 200 day simple moving average of $29.07. The firm has a market capitalization of $17.75 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.43 and a beta of 0.90. Corebridge Financial, Inc. has a 12 month low of $18.83 and a 12 month high of $34.66. 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 (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. The business had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.66 billion. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The business's quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, analysts anticipate that Corebridge Financial, Inc. will post 4.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRBG shares. UBS Group boosted their price target on Corebridge Financial from $29.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, July 9th. Bank of America cut their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada cut their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. TD Cowen initiated coverage on shares of Corebridge Financial in a research report on Wednesday, October 9th. They set a "buy" rating and a $35.00 target price for the company. Finally, Piper Sandler reduced their target price on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Corebridge Financial has an average rating of "Moderate Buy" and an average target price of $34.85.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was 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 directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by insiders.

Corebridge Financial Company 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.