Corebridge Financial, Inc. $CRBG Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its position in Corebridge Financial, Inc. (NYSE:CRBG) by 117.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,250 shares of the company’s stock after acquiring an additional 33,127 shares during the quarter. TD Asset Management Inc’s holdings in Corebridge Financial were worth $2,174,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of Corebridge Financial by 1,223.6% in the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock worth $26,000 after acquiring an additional 673 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Corebridge Financial by 66.7% in the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after acquiring an additional 581 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Corebridge Financial in the 1st quarter worth approximately $75,000. SVB Wealth LLC acquired a new position in shares of Corebridge Financial in the 1st quarter worth approximately $85,000. Finally, Farther Finance Advisors LLC grew its position in shares of Corebridge Financial by 463.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,524 shares of the company’s stock worth $90,000 after acquiring an additional 2,076 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Trading Up 1.2%

NYSE:CRBG opened at $32.15 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $36.57. The business has a 50 day simple moving average of $33.13 and a 200 day simple moving average of $32.59. The firm has a market capitalization of $17.31 billion, a P/E ratio of -52.70, a P/E/G ratio of 0.49 and a beta of 1.02.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.21. Corebridge Financial had a positive return on equity of 22.06% and a negative net margin of 1.80%.The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. Equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 16th. Corebridge Financial’s payout ratio is -157.38%.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $33.65, for a total transaction of $1,009,500,000.00. Following the completion of the transaction, the insider owned 83,896,013 shares in the company, valued at approximately $2,823,100,837.45. The trade was a 26.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRBG. Barclays decreased their target price on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen upgraded Corebridge Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods reduced their price objective on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 9th. Wolfe Research assumed coverage on Corebridge Financial in a research report on Friday, October 10th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Corebridge Financial from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $39.91.

Corebridge Financial 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.