SG Americas Securities LLC Purchases 100,778 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

SG Americas Securities LLC raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 113.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,561 shares of the company's stock after purchasing an additional 100,778 shares during the quarter. SG Americas Securities LLC's holdings in Corebridge Financial were worth $5,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Perpetual Ltd acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at approximately $298,000. Sugar Maple Asset Management LLC bought a new position in Corebridge Financial in the 4th quarter valued at $254,000. Artemis Investment Management LLP boosted its position in Corebridge Financial by 21.5% in the 4th quarter. Artemis Investment Management LLP now owns 1,898,551 shares of the company's stock valued at $56,824,000 after buying an additional 335,532 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Corebridge Financial by 52.2% in the 4th quarter. Park Avenue Securities LLC now owns 12,210 shares of the company's stock valued at $365,000 after buying an additional 4,188 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Corebridge Financial by 3.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 116,389 shares of the company's stock worth $3,484,000 after acquiring an additional 4,135 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Insider Activity

In related news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Corebridge Financial Stock Up 1.8 %

Shares of CRBG traded up $0.58 on Friday, hitting $33.22. The company's stock had a trading volume of 2,862,112 shares, compared to its average volume of 2,569,857. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of -15.89, a P/E/G ratio of 0.36 and a beta of 0.92. The firm's fifty day moving average price is $31.02 and its 200-day moving average price is $29.82. Corebridge Financial, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.21. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The company had revenue of $5.53 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. The business's quarterly revenue was up 39.5% compared to the same quarter last year. On average, equities research analysts expect that Corebridge Financial, Inc. will post 4.8 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Tuesday, December 17th. Corebridge Financial's dividend payout ratio is -44.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Corebridge Financial from $37.00 to $35.00 and set an "overweight" rating on the stock in a report on Tuesday, January 14th. TD Cowen lifted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Piper Sandler increased their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Morgan Stanley lifted their target price on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and increased their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.43.

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.