David Ditillo Sells 12,414 Shares of Corebridge Financial (NYSE:CRBG) Stock

Corebridge Financial, Inc. (NYSE:CRBG) 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 sale, the insider directly owned 111,153 shares in the company, valued at $3,779,202. This trade represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Ditillo also recently made the following trade(s):

• On Monday, July 6th, David Ditillo sold 4,250 shares of Corebridge Financial stock. The shares were sold at an average price of $30.00, for a total value of $127,500.00.

Corebridge Financial Trading Down 1.1%

Shares of CRBG opened at $33.65 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.14. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $35.22. The stock has a market capitalization of $15.00 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.44 and a beta of 1.08. The business’s 50-day moving average price is $29.91 and its 200 day moving average price is $28.06.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Tuesday, August 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion during 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 period last year, the company posted $1.36 earnings per share. Analysts expect that Corebridge Financial, Inc. will post 4.55 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. Corebridge Financial’s dividend payout ratio (DPR) is currently 58.48%.

Institutional Trading of Corebridge Financial

A number of institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia increased its position in 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 purchasing an additional 340 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Corebridge Financial by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after purchasing an additional 383 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Corebridge Financial by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock valued at $141,000 after buying an additional 435 shares during the last quarter. Empowered Funds LLC grew its stake 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 valued at $212,000 after buying an additional 465 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Corebridge Financial by 35.0% in the 4th quarter. Assetmark Inc. now owns 1,877 shares of the company’s stock valued at $57,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CRBG shares. Mizuho raised their target price on Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Bank of America reduced their price objective on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group lifted their target price on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods upped their target price on Corebridge Financial from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.75.

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.