David Ditillo Sells 8,736 Shares of Corebridge Financial (NYSE:CRBG) Stock

Corebridge Financial, Inc. (NYSE:CRBGGet Free Report) insider David Ditillo sold 8,736 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $35.00, for a total value of $305,760.00. Following the sale, the insider directly owned 102,417 shares in the company, valued at approximately $3,584,595. This represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Ditillo also recently made the following trade(s):

  • On Thursday, August 6th, David Ditillo sold 12,414 shares of Corebridge Financial stock. The shares were sold at an average price of $34.00, for a total value of $422,076.00.
  • On Monday, July 6th, David Ditillo sold 4,250 shares of Corebridge Financial stock. The stock was sold at an average price of $30.00, for a total transaction of $127,500.00.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $34.99 on Wednesday. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $35.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50 day moving average price of $32.60 and a 200 day moving average price of $28.65. The stock has a market capitalization of $15.60 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 0.45 and a beta of 1.08.

Corebridge Financial (NYSE:CRBGGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. 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 prior year, the firm earned $1.36 EPS. Analysts predict that Corebridge Financial, Inc. will post 4.58 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, September 16th. Corebridge Financial’s payout ratio is currently 58.48%.

Institutional Investors Weigh In On Corebridge Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CRBG. Pzena Investment Management LLC bought a new position in Corebridge Financial during the 2nd quarter worth $967,400,000. BlackRock Inc. bought a new stake in shares of Corebridge Financial during the 2nd quarter valued at $726,494,000. Norges Bank acquired a new stake in shares of Corebridge Financial during the 4th quarter worth $611,550,000. Donald Smith & CO. Inc. acquired a new stake in shares of Corebridge Financial during the 2nd quarter worth $168,134,000. Finally, Davis Asset Management L.P. bought a new position in shares of Corebridge Financial in the second quarter worth $166,054,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CRBG. Jefferies Financial Group upped their price objective on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Barclays lifted their target price on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. 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 research note on Thursday, July 9th. Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, UBS Group raised their price objective on shares of Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.42.

View Our Latest Research Report on CRBG

About Corebridge Financial

(Get Free Report)

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers, financial professionals and institutional clients through a range of businesses focused on helping customers build, preserve and receive income from their assets.

Its products and services include individual and group annuities, retirement plan solutions, life insurance and institutional insurance offerings. Corebridge also provides investment, recordkeeping and related administrative services for workplace retirement plans, as well as solutions designed to support financial institutions and other institutional customers.

Corebridge was established through the separation of American International Group’s life and retirement business and began operating as an independent publicly traded company in 2022.

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Insider Buying and Selling by Quarter for Corebridge Financial (NYSE:CRBG)

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