Voya Investment Management LLC Sells 479 Shares of Corebridge Financial, Inc. $CRBG

Voya Investment Management LLC lessened its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,466 shares of the company’s stock after selling 479 shares during the quarter. Voya Investment Management LLC’s holdings in Corebridge Financial were worth $1,120,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of Corebridge Financial by 0.4% in the 1st quarter. Rhumbline Advisers now owns 307,352 shares of the company’s stock worth $9,703,000 after purchasing an additional 1,215 shares during the last quarter. Strs Ohio bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $1,823,000. Focus Partners Wealth bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $384,000. Woodline Partners LP bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $4,908,000. Finally, Meiji Yasuda Life Insurance Co bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $373,000. Institutional investors own 98.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRBG. Wells Fargo & Company upped their target price on shares of Corebridge Financial from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of Corebridge Financial from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Barclays reduced their price target on shares of Corebridge Financial from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, September 5th. Keefe, Bruyette & Woods upped their price target on shares of Corebridge Financial from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley upped their price target on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, June 27th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.80.

Corebridge Financial Stock Performance

Corebridge Financial stock opened at $33.28 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.86. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $36.57. The company has a market cap of $17.92 billion, a PE ratio of -54.56, a PEG ratio of 0.56 and a beta of 1.06. The company’s 50-day moving average is $34.17 and its two-hundred day moving average is $32.50.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.21. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.85 billion. Corebridge Financial had a negative net margin of 1.80% and a positive return on equity of 22.06%. During the same period in the prior year, the company posted $1.13 EPS. Equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently -157.38%.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 1,184,160 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $33.65, for a total value of $39,846,984.00. Following the sale, the insider directly owned 82,711,853 shares in the company, valued at $2,783,253,853.45. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Corebridge Financial Profile

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.