Amundi Has $22.86 Million Stock Position in Corebridge Financial, Inc. $CRBG

Amundi lessened its holdings in Corebridge Financial, Inc. (NYSE:CRBG – Free Report) by 85.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 798,634 shares of the company’s stock after selling 4,533,762 shares during the period. Amundi owned about 0.18% of Corebridge Financial worth $22,865,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia boosted its stake in shares of Corebridge Financial by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock worth $331,000 after buying an additional 340 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Corebridge Financial by 2.5% during the third quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after buying an additional 383 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Corebridge Financial by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock worth $141,000 after purchasing an additional 435 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Corebridge Financial by 7.1% in the 4th quarter. Empowered Funds LLC now owns 7,042 shares of the company’s stock worth $212,000 after buying an additional 465 shares during the last quarter. Finally, Rothschild Investment LLC lifted its stake in Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after purchasing an additional 520 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

CRBG has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Wells Fargo & Company boosted their target price on shares of Corebridge Financial from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. UBS Group lifted their price objective on Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group increased their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.42.

Read Our Latest Report on CRBG

Insider Activity

In other Corebridge Financial news, major shareholder Life Insurance Co Nippon acquired 136,466 shares of the stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average price of $33.78 per share, with a total value of $4,609,821.48. Following the transaction, the insider directly owned 122,125,993 shares of the company’s stock, valued at $4,125,416,043.54. This trade represents a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Ditillo sold 12,414 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $34.00, for a total value of $422,076.00. Following the transaction, the insider owned 111,153 shares in the company, valued at approximately $3,779,202. This trade represents a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 24,409 shares of company stock worth $805,626. Insiders own 0.32% of the company’s stock.

Corebridge Financial Stock Performance

CRBG stock opened at $34.70 on Friday. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $35.00. The business has a 50-day moving average price of $32.43 and a 200 day moving average price of $28.53. The company has a market capitalization of $15.47 billion, a P/E ratio of 20.29, a PEG ratio of 0.44 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.

Corebridge Financial (NYSE:CRBG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, equities research analysts forecast that Corebridge Financial, Inc. will post 4.58 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given 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 2.9%. Corebridge Financial’s dividend payout ratio is presently 58.48%.

About Corebridge Financial

(Free Report)

Corebridge Financial, Inc NYSE: CRBG is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers, financial professionals and institutional clients through a range of businesses focused on helping customers build, preserve and receive income from their assets.

Its products and services include individual and group annuities, retirement plan solutions, life insurance and institutional insurance offerings. Corebridge also provides investment, recordkeeping and related administrative services for workplace retirement plans, as well as solutions designed to support financial institutions and other institutional customers.

Corebridge was established through the separation of American International Group’s life and retirement business and began operating as an independent publicly traded company in 2022.

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