SG Americas Securities LLC Has $10.82 Million Stock Holdings in Corebridge Financial, Inc. $CRBG

SG Americas Securities LLC increased its stake in shares of Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 63.9% in the first quarter, Holdings Channel.com reports. The firm owned 453,453 shares of the company’s stock after buying an additional 176,845 shares during the quarter. SG Americas Securities LLC’s holdings in Corebridge Financial were worth $10,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRBG. Goldman Sachs Group Inc. grew its stake in shares of Corebridge Financial by 229.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after buying an additional 905,918 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Corebridge Financial during the first quarter worth $384,000. Creative Planning bought a new position in shares of Corebridge Financial in the 2nd quarter valued at $243,000. EverSource Wealth Advisors LLC lifted its stake in shares of Corebridge Financial by 58.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company’s stock valued at $162,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Corebridge Financial by 64.4% during the 2nd quarter. Cerity Partners LLC now owns 92,554 shares of the company’s stock valued at $3,286,000 after acquiring an additional 36,239 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Up 1.7%

Shares of CRBG stock opened at $28.63 on Friday. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $36.57. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 0.31 and a beta of 1.14. The stock has a 50-day moving average of $27.46 and a 200-day moving average of $27.97.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. On average, equities research analysts forecast that Corebridge Financial, Inc. will post 4.75 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Corebridge Financial’s payout ratio is 181.82%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRBG. Bank of America reduced their price objective on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. cut their price target on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Piper Sandler reduced their price target on Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Barclays lowered their price objective on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, Morgan Stanley dropped their price objective on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.36.

View Our Latest Report on CRBG

Corebridge Financial Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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