Brentview Investment Management LLC Makes New $2.55 Million Investment in Corebridge Financial, Inc. (NYSE:CRBG)

Brentview Investment Management LLC acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 85,254 shares of the company’s stock, valued at approximately $2,552,000.

Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Corebridge Financial by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock valued at $625,000 after purchasing an additional 585 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Corebridge Financial by 718.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 37,525 shares of the company’s stock valued at $1,093,000 after purchasing an additional 32,940 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Corebridge Financial by 34.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,400 shares of the company’s stock valued at $1,674,000 after purchasing an additional 14,700 shares during the period. Diversified Trust Co lifted its stake in shares of Corebridge Financial by 25.4% in the 3rd quarter. Diversified Trust Co now owns 28,516 shares of the company’s stock valued at $832,000 after purchasing an additional 5,767 shares during the period. Finally, Artemis Investment Management LLP lifted its stake in shares of Corebridge Financial by 5.2% in the 3rd quarter. Artemis Investment Management LLP now owns 1,563,019 shares of the company’s stock valued at $45,578,000 after purchasing an additional 76,654 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $33.76 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s fifty day moving average price is $31.27 and its two-hundred day moving average price is $29.95. Corebridge Financial, Inc. has a one year low of $23.01 and a one year high of $34.66. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of -16.15, a P/E/G ratio of 0.38 and a beta of 0.94.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. 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 firm posted $1.05 EPS. Corebridge Financial’s quarterly revenue was up 39.5% on a year-over-year basis. On average, equities analysts forecast that Corebridge Financial, Inc. will post 4.8 EPS for the current year.

Wall Street Analysts Forecast Growth

CRBG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Piper Sandler upped their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research report on Monday, January 6th. Finally, Morgan Stanley upped their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and an average price target of $36.43.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $31.20, for a total value of $936,000,000.00. Following the completion of the transaction, the insider now directly owns 249,238,898 shares in the company, valued at approximately $7,776,253,617.60. This trade represents a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Corebridge Financial Company Profile

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.