Danske Bank A S Purchases New Holdings in Corebridge Financial, Inc. $CRBG

Danske Bank A S bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 86,800 shares of the company’s stock, valued at approximately $2,485,000.

A number of other hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia lifted 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 buying an additional 340 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Corebridge Financial by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock worth $494,000 after buying an additional 383 shares during the last quarter. Van ECK Associates Corp raised its position in Corebridge Financial by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock valued at $141,000 after acquiring an additional 435 shares in the last quarter. Empowered Funds LLC raised its position in Corebridge Financial by 7.1% during the fourth quarter. Empowered Funds LLC now owns 7,042 shares of the company’s stock valued at $212,000 after acquiring an additional 465 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Corebridge Financial by 35.0% in the fourth quarter. Assetmark Inc. now owns 1,877 shares of the company’s stock valued at $57,000 after acquiring an additional 487 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CRBG shares. Piper Sandler boosted their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group upped their price objective on shares of Corebridge Financial from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on Corebridge Financial from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.42.

Corebridge Financial Trading Up 0.3%

NYSE:CRBG opened at $31.91 on Friday. Corebridge Financial, Inc. has a 12 month low of $22.19 and a 12 month high of $35.22. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.41 and a beta of 1.08. 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 company’s 50 day moving average is $31.13 and its 200-day moving average is $28.26.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same period in the previous year, the company earned $1.36 earnings per share. Equities analysts anticipate that Corebridge Financial, Inc. will post 4.6 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. Corebridge Financial’s payout ratio is currently 58.48%.

Insiders Place Their Bets

In other news, insider David Ditillo sold 12,414 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.00, for a total value of $422,076.00. Following the sale, the insider directly owned 111,153 shares of the company’s stock, valued at approximately $3,779,202. This trade represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth B. Cropper sold 7,745 shares of Corebridge Financial stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $33.06, for a total value of $256,049.70. Following the completion of the transaction, the executive vice president owned 46,473 shares in the company, valued at $1,536,397.38. The trade was a 14.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,409 shares of company stock valued at $805,626. Company insiders own 0.32% of the company’s stock.

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.