Quantbot Technologies LP Has $9.52 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Quantbot Technologies LP grew its position in Corebridge Financial, Inc. (NYSE:CRBG) by 892.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,478 shares of the company’s stock after buying an additional 293,573 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of Corebridge Financial worth $9,520,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CRBG. Capital Performance Advisors LLP purchased a new position in shares of Corebridge Financial during the third quarter valued at $28,000. ORG Wealth Partners LLC purchased a new position in Corebridge Financial during the 3rd quarter valued at about $29,000. HM Payson & Co. acquired a new position in shares of Corebridge Financial in the 3rd quarter valued at about $29,000. LRI Investments LLC purchased a new stake in shares of Corebridge Financial in the second quarter worth approximately $30,000. Finally, Covestor Ltd boosted its holdings in shares of Corebridge Financial by 118.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Trading Up 0.3 %

Shares of CRBG stock opened at $31.86 on Tuesday. Corebridge Financial, Inc. has a 12 month low of $20.07 and a 12 month high of $34.66. The company has a market cap of $18.12 billion, a PE ratio of -15.24, a price-to-earnings-growth ratio of 0.41 and a beta of 0.90. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $30.36 and its two-hundred day moving average is $29.38.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. The business had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Corebridge Financial’s revenue was up 39.5% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. Equities analysts predict that Corebridge Financial, Inc. will post 4.78 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.92 annualized dividend and a dividend yield of 2.89%. Corebridge Financial’s dividend payout ratio is presently -44.02%.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRBG shares. 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 note on Tuesday, November 5th. TD Cowen assumed coverage on Corebridge Financial in a report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada lowered their target price on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Barclays upped their target price on Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler reduced their price target on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.85.

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.