Squarepoint Ops LLC Increases Stake in Corebridge Financial, Inc. $CRBG

Squarepoint Ops LLC grew its holdings in Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 112.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 446,670 shares of the company’s stock after acquiring an additional 236,266 shares during the period. Squarepoint Ops LLC’s holdings in Corebridge Financial were worth $12,788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CRBG. Goldman Sachs Group Inc. raised its holdings in Corebridge Financial by 229.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company’s stock worth $41,042,000 after purchasing an additional 905,918 shares during the period. Focus Partners Wealth bought a new stake in Corebridge Financial during the first quarter valued at about $384,000. Creative Planning bought a new stake in Corebridge Financial during the second quarter valued at about $243,000. EverSource Wealth Advisors LLC increased its position in Corebridge Financial by 58.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company’s stock worth $162,000 after buying an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Corebridge Financial by 64.4% in the second quarter. Cerity Partners LLC now owns 92,554 shares of the company’s stock worth $3,286,000 after buying an additional 36,239 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock opened at $33.89 on Thursday. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.43 and a beta of 1.08. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $32.24 and its 200-day simple moving average is $28.46. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $34.82.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $1.36 EPS. As a group, analysts expect that Corebridge Financial, Inc. will post 4.58 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. Corebridge Financial’s dividend payout ratio (DPR) is presently 58.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRBG. Wells Fargo & Company raised their price objective on Corebridge Financial from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Jefferies Financial Group increased their target price on shares of Corebridge Financial from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, Barclays lifted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Check Out Our Latest Analysis on CRBG

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, EVP Elizabeth B. Cropper sold 7,745 shares of Corebridge Financial stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $33.06, for a total value of $256,049.70. Following the sale, the executive vice president directly owned 46,473 shares in the company, valued at approximately $1,536,397.38. The trade was a 14.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Ditillo sold 12,414 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $422,076.00. Following the transaction, the insider directly owned 111,153 shares of the company’s stock, valued at $3,779,202. This trade represents a 10.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 24,409 shares of company stock worth $805,626 in the last three months. Insiders own 0.32% of the company’s stock.

Corebridge Financial 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.

Recommended Stories

Want to see what other hedge funds are holding CRBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corebridge Financial, Inc. (NYSE:CRBGFree Report).

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

Receive News & Ratings for Corebridge Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corebridge Financial and related companies with MarketBeat.com's FREE daily email newsletter.