Vest Financial LLC Purchases 28,842 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Vest Financial LLC boosted its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,733 shares of the company's stock after acquiring an additional 28,842 shares during the period. Vest Financial LLC's holdings in Corebridge Financial were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth about $27,000. Fortitude Family Office LLC purchased a new position in Corebridge Financial in the fourth quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new position in Corebridge Financial in the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new stake in Corebridge Financial in the third quarter valued at approximately $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in Corebridge Financial in the third quarter valued at approximately $29,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder International Group American sold 121,956,256 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a research report on Monday, January 6th. DOWLING & PARTN cut Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. TD Cowen lifted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.43.

Corebridge Financial Trading Down 1.1 %

CRBG traded down $0.38 during trading on Wednesday, reaching $32.77. The company had a trading volume of 3,616,628 shares, compared to its average volume of 3,162,326. The firm's 50-day simple moving average is $31.40 and its 200 day simple moving average is $30.13. The company has a market cap of $18.64 billion, a price-to-earnings ratio of -15.68, a PEG ratio of 0.37 and a beta of 0.94. Corebridge Financial, Inc. has a 12-month low of $23.34 and a 12-month high of $34.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.8 earnings per share for the current year.

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.