Machina Capital S.A.S. Makes New Investment in Corebridge Financial, Inc. $CRBG

Machina Capital S.A.S. acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 36,892 shares of the company’s stock, valued at approximately $1,182,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of Nova Scotia boosted its position in Corebridge Financial by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock worth $331,000 after purchasing an additional 340 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Corebridge Financial by 32.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,723 shares of the company’s stock valued at $55,000 after purchasing an additional 420 shares during the period. Brighton Jones LLC boosted its holdings in Corebridge Financial by 4.7% during the third quarter. Brighton Jones LLC now owns 9,632 shares of the company’s stock worth $309,000 after buying an additional 435 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in Corebridge Financial by 3.4% during the third quarter. Keybank National Association OH now owns 13,444 shares of the company’s stock worth $431,000 after buying an additional 438 shares in the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Wolfe Research started coverage on Corebridge Financial in a research report on Friday, October 10th. They issued a “peer perform” rating for the company. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 target price (down previously from $39.00) on shares of Corebridge Financial in a research report on Monday, November 17th. Keefe, Bruyette & Woods dropped their price target on shares of Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 9th. Finally, Barclays cut their price target on shares of Corebridge Financial from $39.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.70.

Corebridge Financial Stock Performance

NYSE CRBG opened at $31.20 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s 50 day simple moving average is $30.53 and its 200-day simple moving average is $31.87. The company has a market cap of $16.24 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.