Corebridge Financial, Inc. (NYSE:CRBG) Short Interest Update

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 8,210,000 shares, an increase of 13.6% from the December 31st total of 7,230,000 shares. Approximately 2.2% of the company's stock are sold short. Based on an average daily volume of 3,520,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRBG shares. Morgan Stanley boosted their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. DOWLING & PARTN downgraded shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their price target on shares of Corebridge Financial from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and a consensus target price of $36.43.

Corebridge Financial Stock Down 0.0 %

NYSE CRBG traded down $0.01 on Thursday, hitting $33.23. The stock had a trading volume of 2,869,712 shares, compared to its average volume of 3,133,354. Corebridge Financial has a 52-week low of $23.01 and a 52-week high of $34.66. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of -15.90, a price-to-earnings-growth ratio of 0.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The business's fifty day moving average price is $31.32 and its 200 day moving average price is $30.02.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Corebridge Financial's revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. Equities research analysts anticipate that Corebridge Financial will post 4.8 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder International Group American sold 121,956,256 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 127,282,642 shares of the company's stock, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Corebridge Financial

Several hedge funds have recently bought and sold shares of CRBG. Smartleaf Asset Management LLC grew its position in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the period. Covestor Ltd raised its stake in Corebridge Financial by 118.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the company's stock worth $31,000 after purchasing an additional 570 shares during the period. The Manufacturers Life Insurance Company grew its position in Corebridge Financial by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company's stock worth $625,000 after acquiring an additional 585 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Corebridge Financial by 3.1% during the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after purchasing an additional 660 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after acquiring an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

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.