Vinva Investment Management Ltd Invests $2.97 Million in Corebridge Financial, Inc. (NYSE:CRBG)

Vinva Investment Management Ltd bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 102,593 shares of the company's stock, valued at approximately $2,965,000.

Several other hedge funds have also bought and sold shares of CRBG. Canada Pension Plan Investment Board lifted its stake in Corebridge Financial by 249.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company's stock valued at $183,894,000 after purchasing an additional 4,507,322 shares during the last quarter. Marshall Wace LLP raised its holdings in Corebridge Financial by 201.1% in the 2nd quarter. Marshall Wace LLP now owns 4,008,341 shares of the company's stock valued at $116,723,000 after acquiring an additional 2,677,105 shares during the period. Dimensional Fund Advisors LP raised its holdings in Corebridge Financial by 150.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company's stock valued at $103,707,000 after acquiring an additional 2,137,594 shares during the period. AQR Capital Management LLC raised its holdings in Corebridge Financial by 40.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,462,933 shares of the company's stock valued at $129,961,000 after acquiring an additional 1,282,154 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Corebridge Financial by 158.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,445,594 shares of the company's stock valued at $42,096,000 after acquiring an additional 886,794 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRBG has been the topic of several research analyst reports. Piper Sandler lowered their price target 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. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Barclays increased their price target on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Finally, DOWLING & PARTN cut shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Four 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Corebridge Financial Price Performance

NYSE:CRBG traded down $0.04 during mid-day trading on Friday, reaching $32.37. The stock had a trading volume of 1,218,343 shares, compared to its average volume of 3,976,098. The stock has a 50-day simple moving average of $30.75 and a two-hundred day simple moving average of $29.47. The stock has a market capitalization of $18.41 billion, a PE ratio of -15.49, a P/E/G ratio of 0.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a 12 month low of $20.07 and a 12 month high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company's quarterly revenue was up 39.5% on a year-over-year basis. On average, equities analysts anticipate that Corebridge Financial, Inc. will post 4.78 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.23 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a yield of 2.84%. Corebridge Financial's dividend payout ratio is currently -44.02%.

Insider Buying and Selling at Corebridge Financial

In other 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 owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% 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.