Edmond DE Rothschild Holding S.A. Invests $419,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Edmond DE Rothschild Holding S.A. bought a new position in Corebridge Financial, Inc. (NYSE:CRBG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,576 shares of the company’s stock, valued at approximately $419,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRBG. American International Group Inc. boosted its holdings in shares of Corebridge Financial by 25,998,738.6% in the 4th quarter. American International Group Inc. now owns 324,205,517 shares of the company’s stock valued at $7,022,291,000 after acquiring an additional 324,204,270 shares during the last quarter. Capital Research Global Investors lifted its position in Corebridge Financial by 6.5% during the fourth quarter. Capital Research Global Investors now owns 30,781,806 shares of the company’s stock valued at $666,734,000 after purchasing an additional 1,865,841 shares during the period. Vanguard Group Inc. boosted its holdings in Corebridge Financial by 39.0% in the fourth quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock valued at $513,626,000 after purchasing an additional 6,648,673 shares during the last quarter. Norges Bank purchased a new position in shares of Corebridge Financial during the 4th quarter valued at about $225,561,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock valued at $216,831,000 after buying an additional 5,157,570 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Trading Up 0.9 %

Shares of CRBG traded up $0.28 during mid-day trading on Thursday, reaching $29.84. The stock had a trading volume of 98,609 shares, compared to its average volume of 4,322,437. Corebridge Financial, Inc. has a 52-week low of $17.40 and a 52-week high of $34.66. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 0.41 and a beta of 0.97. The business’s fifty day moving average is $29.64 and its 200 day moving average is $27.01. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. Corebridge Financial had a net margin of 11.25% and a return on equity of 23.64%. During the same quarter last year, the firm earned $0.97 EPS. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 4.73 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.23 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.08%. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Insider Activity

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the transaction, the insider now owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

CRBG has been the topic of several analyst reports. Evercore ISI raised their target price on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Bank of America lowered their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group raised their price objective on Corebridge Financial from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, UBS Group boosted their price target on shares of Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.46.

Corebridge Financial Company Profile

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.