QRG Capital Management Inc. Purchases 53,329 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

QRG Capital Management Inc. boosted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 25.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,426 shares of the company's stock after buying an additional 53,329 shares during the quarter. QRG Capital Management Inc.'s holdings in Corebridge Financial were worth $7,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Corebridge Financial during the first quarter valued at approximately $16,489,000. Commonwealth Equity Services LLC raised its position in Corebridge Financial by 5.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the company's stock worth $624,000 after buying an additional 1,149 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Corebridge Financial by 43.8% during the first quarter. Daiwa Securities Group Inc. now owns 54,200 shares of the company's stock valued at $1,557,000 after buying an additional 16,500 shares during the period. Mediolanum International Funds Ltd acquired a new position in shares of Corebridge Financial during the 1st quarter worth approximately $1,927,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Corebridge Financial during the first quarter worth $251,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Insider Activity

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of Corebridge Financial stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

Corebridge Financial Stock Performance

CRBG traded up $3.60 on Wednesday, hitting $33.60. 4,410,633 shares of the stock traded hands, compared to its average volume of 3,869,615. The firm has a market capitalization of $19.89 billion, a PE ratio of 9.34, a P/E/G ratio of 0.43 and a beta of 0.90. The business has a fifty day moving average price of $29.46 and a two-hundred day moving average price of $29.07. Corebridge Financial, Inc. has a 52 week low of $18.83 and a 52 week high of $34.66. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.66 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. Corebridge Financial's revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, research analysts predict that Corebridge Financial, Inc. will post 4.65 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 2.74%. Corebridge Financial's dividend payout ratio is currently 28.66%.

Analyst Upgrades and Downgrades

CRBG has been the topic of several research reports. UBS Group raised their price target 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. Barclays upped their price target on Corebridge Financial from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday. Royal Bank of Canada decreased their price target on Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Bank of America reduced their price objective on Corebridge Financial from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, July 11th. Finally, Piper Sandler cut their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.85.

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.