Rhumbline Advisers Has $9.72 Million Stock Holdings in Corebridge Financial, Inc. $CRBG

Rhumbline Advisers lowered its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,861 shares of the company’s stock after selling 33,491 shares during the period. Rhumbline Advisers owned 0.05% of Corebridge Financial worth $9,722,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CRBG. Cetera Investment Advisers boosted its holdings in shares of Corebridge Financial by 25.3% during the 1st quarter. Cetera Investment Advisers now owns 25,216 shares of the company’s stock valued at $796,000 after acquiring an additional 5,091 shares in the last quarter. LPL Financial LLC raised its position in Corebridge Financial by 3.8% in the first quarter. LPL Financial LLC now owns 180,778 shares of the company’s stock valued at $5,707,000 after purchasing an additional 6,593 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Corebridge Financial by 79.6% during the first quarter. Jefferies Financial Group Inc. now owns 30,528 shares of the company’s stock valued at $964,000 after purchasing an additional 13,528 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Corebridge Financial by 38.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,003 shares of the company’s stock worth $190,000 after purchasing an additional 1,681 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in shares of Corebridge Financial in the first quarter valued at approximately $358,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 1,184,160 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $33.65, for a total transaction of $39,846,984.00. Following the transaction, the insider owned 82,711,853 shares in the company, valued at $2,783,253,853.45. The trade was a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock opened at $29.73 on Tuesday. The business has a 50-day moving average price of $31.01 and a two-hundred day moving average price of $32.84. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.57. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.48 billion, a P/E ratio of 17.70, a PEG ratio of 0.41 and a beta of 1.02.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Tuesday, November 4th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.12). Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. Corebridge Financial’s dividend payout ratio (DPR) is 57.14%.

Wall Street Analyst Weigh In

CRBG has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Corebridge Financial from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 price target (down previously from $39.00) on shares of Corebridge Financial in a report on Monday, November 17th. Evercore ISI decreased their price objective on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Keefe, Bruyette & Woods lowered their target price on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corebridge Financial in a research report on Tuesday, November 25th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $39.40.

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.