QRG Capital Management Inc. Buys 53,329 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

QRG Capital Management Inc. grew its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 25.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 260,426 shares of the company’s stock after acquiring an additional 53,329 shares during the period. QRG Capital Management Inc.’s holdings in Corebridge Financial were worth $7,594,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRBG. Canada Pension Plan Investment Board raised its stake in Corebridge Financial by 249.3% in the second quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock worth $183,894,000 after buying an additional 4,507,322 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in Corebridge Financial in the first quarter worth approximately $89,013,000. Capital Research Global Investors raised its stake in Corebridge Financial by 9.9% in the first quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock worth $972,257,000 after buying an additional 3,059,354 shares in the last quarter. Marshall Wace LLP raised its stake in Corebridge Financial by 201.1% in the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company’s stock worth $116,723,000 after buying an additional 2,677,105 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Corebridge Financial by 150.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company’s stock worth $103,707,000 after buying an additional 2,137,594 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRBG shares. Piper Sandler reduced their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays upped their price target on Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Bank of America reduced their price target on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, UBS Group upped their price target on Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.85.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Corebridge Financial Price Performance

Shares of CRBG opened at $29.99 on Wednesday. The firm has a market capitalization of $17.75 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66. The company’s fifty day moving average price is $29.46 and its 200-day moving average price is $29.07.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.17 by $0.21. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. On average, equities research analysts predict that Corebridge Financial, Inc. will post 4.65 EPS for the current year.

About Corebridge Financial

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.