81,174 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81,174 shares of the company’s stock, valued at approximately $2,367,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in shares of Corebridge Financial in the third quarter worth approximately $29,000. LRI Investments LLC acquired a new stake in Corebridge Financial during the 2nd quarter worth $30,000. ORG Partners LLC acquired a new stake in Corebridge Financial during the 2nd quarter worth $32,000. Fifth Third Bancorp purchased a new stake in shares of Corebridge Financial during the second quarter worth $54,000. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Corebridge Financial by 73.2% in the second quarter. Deseret Mutual Benefit Administrators now owns 2,075 shares of the company’s stock valued at $60,000 after buying an additional 877 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRBG shares. Royal Bank of Canada dropped their price objective on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays upped their price target on Corebridge Financial from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. TD Cowen assumed coverage on Corebridge Financial in a research report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price objective on the stock. Piper Sandler dropped their target price on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Morgan Stanley cut their target price on Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $34.46.

Insider Activity at Corebridge Financial

In related news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.08% of the company’s stock.

Corebridge Financial Price Performance

Shares of CRBG opened at $31.62 on Friday. The firm has a 50-day simple moving average of $29.38 and a two-hundred day simple moving average of $29.00. The stock has a market cap of $18.72 billion, a PE ratio of 9.85, a P/E/G ratio of 0.44 and a beta of 0.97. Corebridge Financial, Inc. has a 1-year low of $18.83 and a 1-year high of $34.66. 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 (NYSE:CRBG) last posted its earnings results on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm earned $1.04 EPS. As a group, analysts forecast that Corebridge Financial, Inc. will post 4.65 EPS for the current year.

Corebridge Financial 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.