Susquehanna Fundamental Investments LLC Raises Stock Holdings in Corebridge Financial, Inc. $CRBG

Susquehanna Fundamental Investments LLC grew its position in Corebridge Financial, Inc. (NYSE:CRBG) by 85.3% during the second quarter, Holdings Channel reports. The firm owned 871,406 shares of the company’s stock after acquiring an additional 401,038 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Corebridge Financial were worth $24,948,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of CRBG. Pzena Investment Management LLC acquired a new stake in shares of Corebridge Financial during the second quarter worth about $967,400,000. BlackRock Inc. acquired a new stake in shares of Corebridge Financial in the second quarter worth $726,494,000. Norges Bank purchased a new position in shares of Corebridge Financial during the fourth quarter worth $611,550,000. Donald Smith & CO. Inc. acquired a new position in Corebridge Financial during the second quarter valued at $168,134,000. Finally, Davis Asset Management L.P. acquired a new position in Corebridge Financial during the second quarter valued at $166,054,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, EVP Elizabeth B. Cropper sold 7,745 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $33.06, for a total transaction of $256,049.70. Following the completion of the sale, the executive vice president directly owned 46,473 shares in the company, valued at approximately $1,536,397.38. The trade was a 14.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Ditillo sold 12,414 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $34.00, for a total value of $422,076.00. Following the transaction, the insider directly owned 111,153 shares of the company’s stock, valued at $3,779,202. The trade was a 10.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 24,409 shares of company stock valued at $805,626 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Corebridge Financial Trading Down 0.0%

Shares of CRBG stock opened at $32.60 on Monday. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $35.01. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 0.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a 50 day simple moving average of $31.43 and a 200-day simple moving average of $28.30.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same quarter last year, the company earned $1.36 EPS. On average, equities research analysts expect that Corebridge Financial, Inc. will post 4.57 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. Corebridge Financial’s payout ratio is currently 58.48%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their price objective on Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Jefferies Financial Group lifted their price target on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. UBS Group raised their price objective on shares of Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. TD Cowen boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays lifted their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and an average target price of $37.42.

Corebridge Financial Company 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.