Corebridge Financial, Inc. $CRBG Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 43.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,870,085 shares of the company’s stock after purchasing an additional 2,689,611 shares during the period. Dimensional Fund Advisors LP’s holdings in Corebridge Financial were worth $211,575,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Corebridge Financial by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock valued at $818,906,000 after purchasing an additional 311,133 shares during the period. Pzena Investment Management LLC raised its position in shares of Corebridge Financial by 14.4% in the first quarter. Pzena Investment Management LLC now owns 27,045,794 shares of the company’s stock worth $645,313,000 after acquiring an additional 3,413,384 shares during the period. Norges Bank purchased a new position in Corebridge Financial during the fourth quarter worth approximately $611,550,000. State Street Corp grew its stake in Corebridge Financial by 44.3% in the 4th quarter. State Street Corp now owns 11,295,692 shares of the company’s stock valued at $340,791,000 after acquiring an additional 3,465,371 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Corebridge Financial by 91.5% during the 4th quarter. AQR Capital Management LLC now owns 5,911,164 shares of the company’s stock worth $178,340,000 after purchasing an additional 2,823,801 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corebridge Financial

In related news, insider David Ditillo sold 4,250 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $30.00, for a total value of $127,500.00. Following the completion of the sale, the insider owned 128,153 shares in the company, valued at $3,844,590. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by company insiders.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $31.28 on Friday. The company has a 50-day simple moving average of $28.90 and a 200-day simple moving average of $27.94. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.57. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 56.88, a PEG ratio of 0.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. During the same period in the previous year, the firm posted $1.16 EPS. On average, analysts predict that Corebridge Financial, Inc. will post 4.6 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

CRBG has been the subject of a number of research reports. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Piper Sandler increased their target price on shares of Corebridge Financial from $31.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. TD Cowen increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group boosted their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.75.

About Corebridge Financial

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.