Corebridge Financial, Inc. $CRBG Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC raised its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 414.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,229 shares of the company’s stock after purchasing an additional 45,295 shares during the quarter. Janus Henderson Group PLC’s holdings in Corebridge Financial were worth $1,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. State of Michigan Retirement System acquired a new position in Corebridge Financial in the 4th quarter valued at $2,130,000. Yousif Capital Management LLC lifted its stake in shares of Corebridge Financial by 873.3% in the 4th quarter. Yousif Capital Management LLC now owns 88,066 shares of the company’s stock worth $2,591,000 after acquiring an additional 79,018 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Corebridge Financial in the 4th quarter worth $5,358,000. Vanguard Group Inc. boosted its holdings in shares of Corebridge Financial by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock valued at $818,906,000 after acquiring an additional 311,133 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at about $2,072,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.1%

Shares of CRBG opened at $33.65 on Monday. The stock has a market cap of $15.00 billion, a PE ratio of 19.68, a P/E/G ratio of 0.44 and a beta of 1.08. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $35.22. The stock’s 50-day moving average is $29.91 and its two-hundred day moving average is $28.04. 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) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 earnings per share. Equities analysts forecast that Corebridge Financial, Inc. will post 4.55 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued 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 is currently 58.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRBG shares. Barclays boosted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Mizuho upped their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Jefferies Financial Group upped their price objective on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, TD Cowen boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $36.75.

Insider Buying and Selling at Corebridge Financial

In other news, insider David Ditillo sold 12,414 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $422,076.00. Following the completion of the sale, the insider owned 111,153 shares of the company’s stock, valued at approximately $3,779,202. This trade represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.32% of the company’s stock.

Corebridge Financial 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.