Robeco Institutional Asset Management B.V. Acquires 462,917 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Robeco Institutional Asset Management B.V. grew its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 25.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,251,058 shares of the company’s stock after buying an additional 462,917 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.37% of Corebridge Financial worth $65,641,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CRBG. ORG Wealth Partners LLC acquired a new position in Corebridge Financial during the 3rd quarter valued at about $29,000. HM Payson & Co. purchased a new position in shares of Corebridge Financial during the third quarter valued at approximately $29,000. LRI Investments LLC purchased a new stake in Corebridge Financial in the 2nd quarter valued at $30,000. ORG Partners LLC bought a new position in Corebridge Financial during the 2nd quarter valued at $32,000. Finally, Fifth Third Bancorp purchased a new position in Corebridge Financial during the 2nd quarter worth $54,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the sale, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Corebridge Financial in a report on Wednesday, October 9th. They issued a “buy” rating and a $35.00 target price for the company. Morgan Stanley dropped their target price 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. Barclays upped their target price on Corebridge Financial from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Bank of America dropped their price target on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Royal Bank of Canada reduced their price objective on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $34.46.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $31.55 on Tuesday. The business has a fifty day moving average price of $29.44 and a 200-day moving average price of $29.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $18.68 billion, a PE ratio of 9.83, a PEG ratio of 0.44 and a beta of 0.90. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66.

Corebridge Financial 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.