Virtu Financial LLC Invests $581,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Virtu Financial LLC acquired a new position in Corebridge Financial, Inc. (NYSE:CRBG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,914 shares of the company’s stock, valued at approximately $581,000.

Several other large investors have also added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Corebridge Financial during the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new stake in Corebridge Financial during the third quarter worth about $28,000. ORG Wealth Partners LLC acquired a new position in Corebridge Financial during the third quarter valued at approximately $29,000. HM Payson & Co. bought a new position in Corebridge Financial in the third quarter valued at approximately $29,000. Finally, LRI Investments LLC acquired a new position in shares of Corebridge Financial during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Up 1.1 %

Shares of CRBG opened at $30.69 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. Corebridge Financial, Inc. has a 12 month low of $21.40 and a 12 month high of $34.66. The firm’s 50 day moving average is $31.27 and its 200-day moving average is $29.50. The stock has a market capitalization of $17.46 billion, a PE ratio of -14.68, a P/E/G ratio of 0.39 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.21. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts forecast that Corebridge Financial, Inc. will post 4.81 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. Corebridge Financial’s dividend payout ratio (DPR) is -44.02%.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the sale, the insider now owns 249,238,898 shares of the company’s stock, valued at approximately $7,776,253,617.60. The trade was a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 156,956,256 shares of company stock worth $4,918,263,376 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. DOWLING & PARTN cut shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. TD Cowen lifted their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Piper Sandler dropped their price objective on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

About Corebridge Financial

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.