58,296 Shares in Corebridge Financial, Inc. $CRBG Purchased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 58,296 shares of the company’s stock, valued at approximately $1,391,000.

A number of other institutional investors have also added to or reduced their stakes in CRBG. Bank of Nova Scotia raised its holdings in shares of Corebridge Financial by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock valued at $331,000 after purchasing an additional 340 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Corebridge Financial by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after purchasing an additional 383 shares during the period. True Wealth Design LLC boosted its stake in shares of Corebridge Financial by 50.2% during the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after purchasing an additional 412 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Corebridge Financial by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock valued at $141,000 after purchasing an additional 435 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Corebridge Financial by 7.1% during the fourth quarter. Empowered Funds LLC now owns 7,042 shares of the company’s stock valued at $212,000 after buying an additional 465 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, insider David Ditillo sold 4,250 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.00, for a total value of $127,500.00. Following the completion of the sale, the insider directly owned 128,153 shares in the company, valued at approximately $3,844,590. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by corporate insiders.

Corebridge Financial Trading Up 0.6%

NYSE CRBG opened at $31.72 on Thursday. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $36.57. The company has a 50 day moving average price of $28.76 and a 200 day moving average price of $27.91. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The firm has a market cap of $14.14 billion, a PE ratio of 57.67, a price-to-earnings-growth ratio of 0.39 and a beta of 1.10.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business earned $1.16 earnings per share. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 4.63 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is currently 181.82%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America reduced their price objective on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. dropped their target price on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Wells Fargo & Company lifted their price target on Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Barclays boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, UBS Group upped their price objective on Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Corebridge Financial Profile

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.