Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) insider David Ditillo sold 4,250 shares of Corebridge Financial stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.00, for a total transaction of $127,500.00. Following the sale, the insider owned 128,153 shares of the company’s stock, valued at approximately $3,844,590. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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.
Corebridge Financial Trading Down 2.6%
NYSE CRBG opened at $29.81 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $27.95 and its two-hundred day simple moving average is $27.86. Corebridge Financial, Inc. has a twelve month low of $22.19 and a twelve month high of $36.57. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 0.34 and a beta of 1.10.
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the business posted $1.16 earnings per share. Research analysts forecast that Corebridge Financial, Inc. will post 4.75 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
Analyst Upgrades and Downgrades
Several analysts have weighed in on CRBG shares. JPMorgan Chase & Co. lowered their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. UBS Group raised their price objective on Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday. Mizuho lifted their price objective on Corebridge Financial from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings lowered Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.91.
Check Out Our Latest Stock Analysis on CRBG
Hedge Funds Weigh In On Corebridge Financial
A number of hedge funds have recently modified their holdings of the company. Community Bank N.A. purchased a new stake in shares of Corebridge Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC increased its holdings in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after purchasing an additional 532 shares during the period. Rothschild Investment LLC raised its position in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after purchasing an additional 520 shares during the last quarter. Sonoma Allocations LLC purchased a new stake in Corebridge Financial in the 1st quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its holdings in Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.
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.
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