Corebridge Financial, Inc. $CRBG Holdings Raised by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 414.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 56,229 shares of the company’s stock after acquiring an additional 45,295 shares during the quarter. Janus Henderson Group PLC’s holdings in Corebridge Financial were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Salomon & Ludwin LLC increased its stake in Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after purchasing an additional 532 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after buying an additional 520 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Corebridge Financial by 143.7% in the 4th quarter. Clearstead Advisors LLC now owns 1,667 shares of the company’s stock worth $50,000 after buying an additional 983 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Corebridge Financial by 98.8% in the 4th quarter. IFP Advisors Inc now owns 1,797 shares of the company’s stock valued at $54,000 after buying an additional 893 shares during the period. Finally, Key Capital Management INC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CRBG. Mizuho increased their price objective on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Jefferies Financial Group increased their price objective on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Wells Fargo & Company lifted their target price on Corebridge Financial from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, TD Cowen upped their price target on Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Insider Activity

In other news, insider David Ditillo sold 12,414 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $422,076.00. Following the transaction, the insider owned 111,153 shares of the company’s stock, valued at approximately $3,779,202. This represents a 10.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.32% of the company’s stock.

Corebridge Financial Trading Down 0.1%

Shares of NYSE:CRBG opened at $33.65 on Monday. The firm has a market capitalization of $15.00 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.44 and a beta of 1.08. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $35.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $29.91 and a two-hundred day moving average of $28.04.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Tuesday, August 4th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.During the same period in the prior year, the firm posted $1.36 EPS. On average, equities analysts expect that Corebridge Financial, Inc. will post 4.55 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. Corebridge Financial’s dividend payout ratio is currently 58.48%.

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.