AustralianSuper Pty Ltd Purchases 305,603 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

AustralianSuper Pty Ltd lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 48.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 934,989 shares of the company’s stock after acquiring an additional 305,603 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.15% of Corebridge Financial worth $27,264,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRBG. Canada Pension Plan Investment Board lifted its position in shares of Corebridge Financial by 249.3% during the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock worth $183,894,000 after acquiring an additional 4,507,322 shares in the last quarter. Donald Smith & CO. Inc. purchased a new stake in Corebridge Financial during the 1st quarter worth about $89,013,000. Capital Research Global Investors grew its holdings in Corebridge Financial by 9.9% during the 1st quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock valued at $972,257,000 after buying an additional 3,059,354 shares in the last quarter. Marshall Wace LLP increased its position in shares of Corebridge Financial by 201.1% during the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company’s stock valued at $116,723,000 after buying an additional 2,677,105 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Corebridge Financial by 150.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company’s stock worth $103,707,000 after buying an additional 2,137,594 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Insider Activity

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the sale, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRBG. Royal Bank of Canada decreased their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. UBS Group lifted their price objective on Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Bank of America decreased their target price on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler dropped their price target on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $34.46.

Corebridge Financial Stock Down 1.1 %

Corebridge Financial stock traded down $0.35 during trading hours on Thursday, hitting $31.73. 724,704 shares of the stock traded hands, compared to its average volume of 3,861,641. Corebridge Financial, Inc. has a one year low of $18.83 and a one year high of $34.66. The company has a market cap of $18.78 billion, a PE ratio of 9.99, a PEG ratio of 0.42 and a beta of 0.97. The firm’s 50-day moving average price is $29.25 and its two-hundred day moving average price is $28.93. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. During the same period in the prior year, the firm earned $1.04 earnings per share. On average, research analysts forecast that Corebridge Financial, Inc. will post 4.66 EPS for the current year.

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.