Hsbc Holdings PLC Increases Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Hsbc Holdings PLC increased its holdings in Corebridge Financial, Inc. (NYSE:CRBGFree Report) by 604.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,926 shares of the company’s stock after acquiring an additional 112,330 shares during the quarter. Hsbc Holdings PLC’s holdings in Corebridge Financial were worth $2,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRBG. Vestor Capital LLC purchased a new position in Corebridge Financial during the fourth quarter valued at $43,000. Headlands Technologies LLC purchased a new position in shares of Corebridge Financial in the 4th quarter worth about $65,000. Loomis Sayles & Co. L P raised its position in shares of Corebridge Financial by 1,450.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company’s stock worth $130,000 after purchasing an additional 6,152 shares during the last quarter. CI Investments Inc. raised its position in shares of Corebridge Financial by 7,879.8% in the 3rd quarter. CI Investments Inc. now owns 9,097 shares of the company’s stock worth $180,000 after purchasing an additional 8,983 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC purchased a new position in shares of Corebridge Financial in the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Down 2.1 %

CRBG stock opened at $28.93 on Friday. Corebridge Financial, Inc. has a twelve month low of $16.13 and a twelve month high of $34.66. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.94. The stock has a market cap of $17.60 billion, a P/E ratio of 7.61, a PEG ratio of 0.31 and a beta of 0.99. The business’s 50-day moving average price is $28.71 and its 200-day moving average price is $25.31.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. Corebridge Financial had a return on equity of 23.64% and a net margin of 11.25%. The firm had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the firm earned $0.97 EPS. On average, equities research analysts forecast that Corebridge Financial, Inc. will post 4.95 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. Corebridge Financial’s payout ratio is currently 24.21%.

Insider Activity

In other news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the transaction, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRBG. Piper Sandler lifted their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Evercore ISI lifted their price objective on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Corebridge Financial in a report on Friday, April 12th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley lifted their price objective on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Get Our Latest Analysis on CRBG

Corebridge Financial Company 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.

See Also

Want to see what other hedge funds are holding CRBG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corebridge Financial, Inc. (NYSE:CRBGFree Report).

Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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