Virtu Financial LLC Invests $581,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Virtu Financial LLC acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,914 shares of the company's stock, valued at approximately $581,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in Corebridge Financial by 11.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company's stock valued at $4,871,000 after buying an additional 16,970 shares during the last quarter. Swedbank AB bought a new position in Corebridge Financial during the second quarter valued at about $5,639,000. State Street Corp lifted its position in shares of Corebridge Financial by 11.7% during the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company's stock valued at $234,313,000 after acquiring an additional 843,559 shares during the last quarter. Senator Investment Group LP boosted its holdings in shares of Corebridge Financial by 152.2% in the second quarter. Senator Investment Group LP now owns 1,160,000 shares of the company's stock worth $33,779,000 after buying an additional 700,000 shares during the period. Finally, Qsemble Capital Management LP purchased a new stake in shares of Corebridge Financial in the third quarter worth approximately $2,370,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRBG. Barclays lifted their price objective on Corebridge Financial from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. TD Cowen increased their target price on Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Morgan Stanley increased their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. DOWLING & PARTN downgraded shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler decreased their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Corebridge Financial Stock Up 1.1 %

Shares of NYSE CRBG traded up $0.34 during midday trading on Friday, reaching $30.69. 2,535,801 shares of the company's stock were exchanged, compared to its average volume of 3,962,638. 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, Inc. has a 52-week low of $21.40 and a 52-week high of $34.66. The business's fifty day moving average price is $31.27 and its two-hundred day moving average price is $29.50. The stock has a market capitalization of $17.46 billion, a PE ratio of -14.68, a price-to-earnings-growth ratio of 0.39 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, topping 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 company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm earned $1.05 EPS. Corebridge Financial's revenue was up 39.5% on a year-over-year basis. Analysts forecast that Corebridge Financial, Inc. will post 4.81 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, December 17th. Corebridge Financial's dividend payout ratio (DPR) is currently -44.02%.

Insider Activity at Corebridge Financial

In related news, major shareholder International Group American sold 30,000,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the completion of the sale, the insider now owns 249,238,898 shares of the company's stock, valued at $7,776,253,617.60. This represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 156,956,256 shares of company stock worth $4,918,263,376 in the last ninety days. 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.