B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Corebridge Financial, Inc. (NYSE:CRBG)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 163,000 shares of the company’s stock, valued at approximately $4,753,000.

A number of other institutional investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC purchased a new stake in shares of Corebridge Financial in the 1st quarter valued at approximately $1,421,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Corebridge Financial by 196.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 211,085 shares of the company’s stock worth $6,028,000 after purchasing an additional 139,787 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Corebridge Financial during the 1st quarter worth about $222,000. Vanguard Group Inc. raised its holdings in Corebridge Financial by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 25,128,367 shares of the company’s stock valued at $721,938,000 after buying an additional 1,415,265 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Corebridge Financial by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,511 shares of the company’s stock valued at $503,000 after buying an additional 978 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction that occurred on 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 sale, the insider now owns 249,238,898 shares in the company, valued at $7,776,253,617.60. This trade 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 at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRBG has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley boosted their target price on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Barclays lifted their price objective on Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. TD Cowen began coverage on Corebridge Financial in a research note on Wednesday, October 9th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.85.

Corebridge Financial Stock Performance

NYSE CRBG opened at $30.43 on Wednesday. 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 1-year low of $19.26 and a 1-year high of $34.66. The firm has a market capitalization of $17.31 billion, a P/E ratio of -14.56, a P/E/G ratio of 0.39 and a beta of 0.90. The business’s 50-day simple moving average is $30.03 and its 200-day simple moving average is $29.35.

Corebridge Financial (NYSE:CRBG) last announced its quarterly 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 analysts’ expectations of $5.66 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Corebridge Financial’s revenue was up 39.5% compared to the same quarter last year. Equities analysts predict that Corebridge Financial, Inc. will post 4.78 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 3.02%. Corebridge Financial’s dividend payout ratio is currently -44.02%.

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.