Janney Montgomery Scott LLC Has $1.23 Million Holdings in Corebridge Financial, Inc. $CRBG

Janney Montgomery Scott LLC lessened its stake in Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 12.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,696 shares of the company’s stock after selling 4,932 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Corebridge Financial were worth $1,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Corebridge Financial by 1.4% in the first quarter. Vanguard Group Inc. now owns 24,249,948 shares of the company’s stock valued at $765,571,000 after buying an additional 324,692 shares during the period. AQR Capital Management LLC lifted its position in shares of Corebridge Financial by 50.0% in the first quarter. AQR Capital Management LLC now owns 8,337,525 shares of the company’s stock worth $258,880,000 after purchasing an additional 2,780,764 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Corebridge Financial by 73.6% in the first quarter. Pzena Investment Management LLC now owns 8,050,602 shares of the company’s stock worth $254,158,000 after purchasing an additional 3,412,147 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Corebridge Financial by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,829,711 shares of the company’s stock worth $184,034,000 after purchasing an additional 372,270 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Corebridge Financial by 51.3% in the first quarter. LSV Asset Management now owns 4,337,034 shares of the company’s stock worth $136,920,000 after purchasing an additional 1,470,812 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BMO Capital Markets boosted their price objective on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Morgan Stanley cut their price objective on shares of Corebridge Financial from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Corebridge Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays cut their price objective on shares of Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corebridge Financial in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.91.

Read Our Latest Report on Corebridge Financial

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $33.65, for a total value of $1,009,500,000.00. Following the transaction, the insider directly owned 83,896,013 shares of the company’s stock, valued at $2,823,100,837.45. This represents a 26.34% 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. 0.29% of the stock is owned by insiders.

Corebridge Financial Stock Performance

NYSE CRBG opened at $31.29 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $33.44 and its two-hundred day moving average price is $32.53. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $36.57. The firm has a market capitalization of $16.85 billion, a P/E ratio of -51.29, a price-to-earnings-growth ratio of 0.55 and a beta of 1.02.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.21. Corebridge Financial had a negative net margin of 1.80% and a positive return on equity of 22.06%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.1%. Corebridge Financial’s dividend payout ratio is presently -157.38%.

Corebridge Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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