Robeco Institutional Asset Management B.V. Grows Stock Holdings in Corebridge Financial, Inc. $CRBG

Robeco Institutional Asset Management B.V. lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 775,764 shares of the company’s stock after purchasing an additional 131,256 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Corebridge Financial were worth $24,863,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Corebridge Financial by 1,223.6% during the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock worth $26,000 after acquiring an additional 673 shares during the period. Allworth Financial LP purchased a new stake in shares of Corebridge Financial in the second quarter valued at about $26,000. Assetmark Inc. increased its position in Corebridge Financial by 60.9% during the second quarter. Assetmark Inc. now owns 941 shares of the company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Corebridge Financial by 86.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock worth $46,000 after purchasing an additional 603 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in Corebridge Financial in the 2nd quarter valued at about $74,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRBG shares. Keefe, Bruyette & Woods cut their price target on shares of Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $33.00 price objective (down from $39.00) on shares of Corebridge Financial in a research report on Monday, November 17th. Barclays reduced their target price on Corebridge Financial from $39.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corebridge Financial in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Corebridge Financial has an average rating of “Moderate Buy” and a consensus target price of $38.45.

Corebridge Financial Trading Up 2.1%

CRBG opened at $30.76 on Friday. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $36.57. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $30.17 and a 200-day simple moving average of $32.46. The firm has a market cap of $16.01 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.43 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.96 earnings per share (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 firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. Corebridge Financial’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 17th. Corebridge Financial’s dividend payout ratio is currently 57.14%.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.