48,490 Shares of Corebridge Financial, Inc. $CRBG Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 48,490 shares of the company’s stock, valued at approximately $1,638,000.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in Corebridge Financial by 4.7% in the 3rd quarter. ProShare Advisors LLC now owns 9,994 shares of the company’s stock valued at $331,000 after acquiring an additional 445 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Corebridge Financial by 59.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,192 shares of the company’s stock worth $39,000 after acquiring an additional 446 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Corebridge Financial by 0.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 100,478 shares of the company’s stock worth $3,328,000 after purchasing an additional 580 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Corebridge Financial by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,583 shares of the company’s stock worth $185,000 after purchasing an additional 590 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Corebridge Financial by 100.6% during the 2nd quarter. Allworth Financial LP now owns 1,444 shares of the company’s stock worth $41,000 after purchasing an additional 724 shares in the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRBG. Keefe, Bruyette & Woods boosted their price objective on Corebridge Financial from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. UBS Group raised their target price on Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Piper Sandler lifted their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Mizuho boosted their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, October 7th. Finally, Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.18.

Corebridge Financial Stock Up 0.1%

NYSE CRBG opened at $35.94 on Wednesday. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $36.71. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.52 and a beta of 1.05. The stock’s 50 day moving average is $34.55 and its two-hundred day moving average is $30.02. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.67.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Tuesday, November 3rd. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.01). Corebridge Financial had a return on equity of 20.64% and a net margin of 11.37%. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s quarterly revenue was down 20.0% on a year-over-year basis. Equities analysts forecast that Corebridge Financial, Inc. will post 4.57 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, December 17th. Corebridge Financial’s payout ratio is currently 21.46%.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder Life Insurance Co Nippon bought 356,096 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was acquired at an average price of $36.13 per share, for a total transaction of $12,865,748.48. Following the transaction, the insider directly owned 132,890,209 shares of the company’s stock, valued at $4,801,323,251.17. This trade represents a 0.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Argon Holdco Llc sold 3,227,700 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $34.09, for a total transaction of $110,032,293.00. Following the sale, the insider owned 44,234,423 shares of the company’s stock, valued at $1,507,951,480.07. This trade represents a 6.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 10,729,538 shares of company stock worth $369,813,983 and sold 3,244,181 shares worth $110,594,103. 0.32% of the stock is currently owned by insiders.

Corebridge Financial Profile

Corebridge Financial is a U.S.-based provider of retirement solutions and insurance products. Its offerings include annuities and other individual retirement products, life insurance, and retirement plans and services for employers and their workers. The company also serves institutional clients with products and services such as pension risk-transfer solutions and funding agreements. Its business is organized around individual retirement, group retirement, life insurance, and institutional markets, with products distributed through financial professionals and other channels.