Vestor Capital LLC Has $544,000 Stake in Corebridge Financial, Inc. $CRBG

Vestor Capital LLC increased its stake in Corebridge Financial, Inc. by 666.5% in Q2, owning 15,329 shares valued at $544,000. Other major investors like Vanguard and Pzena also increased their holdings. Corebridge's stock has a moderate buy rating with a consensus price target of $39.18. Recent insider activity includes a significant stock sale by International Group American.

Vestor Capital LLC raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 666.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,329 shares of the company's stock after acquiring an additional 13,329 shares during the quarter. Vestor Capital LLC's holdings in Corebridge Financial were worth $544,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Corebridge Financial by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 24,249,948 shares of the company's stock valued at $765,571,000 after purchasing an additional 324,692 shares during the period. Pzena Investment Management LLC increased its holdings in Corebridge Financial by 132.6% in the second quarter. Pzena Investment Management LLC now owns 18,723,701 shares of the company's stock worth $664,691,000 after purchasing an additional 10,673,099 shares in the last quarter. AQR Capital Management LLC increased its holdings in Corebridge Financial by 50.0% in the first quarter. AQR Capital Management LLC now owns 8,337,525 shares of the company's stock worth $258,880,000 after purchasing an additional 2,780,764 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Corebridge Financial by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,829,711 shares of the company's stock valued at $184,034,000 after buying an additional 372,270 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Corebridge Financial by 5.8% during the 2nd quarter. LSV Asset Management now owns 4,587,100 shares of the company's stock worth $162,842,000 after buying an additional 250,066 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRBG. Wall Street Zen upgraded shares of Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley restated an "equal weight" rating and issued a $33.00 price target (down from $39.00) on shares of Corebridge Financial in a report on Monday, November 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corebridge Financial in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of Corebridge Financial from $44.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, November 5th. Finally, Evercore ISI reduced their target price on Corebridge Financial from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $39.18.

Get Our Latest Analysis on CRBG

Insider Activity at Corebridge Financial

In other news, major shareholder International Group American sold 1,184,160 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $33.65, for a total value of $39,846,984.00. Following the transaction, the insider owned 82,711,853 shares in the company, valued at $2,783,253,853.45. The trade was a 1.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Corebridge Financial Stock Up 1.4%

CRBG stock opened at $28.14 on Monday. The firm has a market capitalization of $14.65 billion, a PE ratio of 16.75, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.57. The stock's 50 day moving average is $31.34 and its 200-day moving average is $32.94.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.12). The company had revenue of $5.63 billion during the quarter, compared to analysts' expectations of $4.85 billion. Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The company's quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. Sell-side analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $0.96 annualized dividend and a yield of 3.4%. Corebridge Financial's dividend payout ratio (DPR) is 57.14%.

Corebridge Financial Profile

(Free Report)

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.

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