Public Employees Retirement System of Ohio increased its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 11.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,038 shares of the company's stock after purchasing an additional 16,970 shares during the period. Public Employees Retirement System of Ohio's holdings in Corebridge Financial were worth $4,871,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its stake in shares of Corebridge Financial by 118.8% in the 3rd quarter. Covestor Ltd now owns 1,050 shares of the company's stock valued at $31,000 after purchasing an additional 570 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Corebridge Financial by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company's stock valued at $625,000 after buying an additional 585 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Corebridge Financial by 2.7% during the second quarter. Commonwealth Equity Services LLC now owns 22,322 shares of the company's stock worth $650,000 after buying an additional 597 shares during the period. Xponance Inc. increased its position in shares of Corebridge Financial by 3.0% during the second quarter. Xponance Inc. now owns 21,037 shares of the company's stock valued at $613,000 after acquiring an additional 612 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Corebridge Financial by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,403 shares of the company's stock valued at $740,000 after acquiring an additional 770 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.
CRBG opened at $30.69 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a one year low of $21.40 and a one year high of $34.66. The company has a market cap of $17.46 billion, a P/E ratio of -14.68, a PEG ratio of 0.39 and a beta of 0.86. The business's 50-day simple moving average is $31.27 and its 200-day simple moving average is $29.50.
Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm's revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 3.00%. Corebridge Financial's dividend payout ratio is currently -44.02%.
CRBG has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Corebridge Financial from $34.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. DOWLING & PARTN cut Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, TD Cowen boosted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Corebridge Financial has a consensus rating of "Moderate Buy" and an average price target of $35.00.
Get Our Latest Stock Analysis on CRBG
In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the transaction, the insider now owns 249,238,898 shares of the company's stock, valued at $7,776,253,617.60. The trade was a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 156,956,256 shares of company stock worth $4,918,263,376 over the last 90 days. Corporate insiders own 0.08% of the company's stock.
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.
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