Amalgamated Bank Has $437,000 Stock Holdings in Corebridge Financial, Inc. $CRBG

Amalgamated Bank lowered its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 17.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,315 shares of the company’s stock after selling 2,530 shares during the quarter. Amalgamated Bank’s holdings in Corebridge Financial were worth $437,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Corebridge Financial by 1,223.6% in the second quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after acquiring an additional 673 shares during the period. Assetmark Inc. raised its stake in Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock valued at $33,000 after purchasing an additional 356 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Corebridge Financial by 66.7% in the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock valued at $46,000 after purchasing an additional 581 shares during the period. Nisa Investment Advisors LLC grew its position in Corebridge Financial by 86.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock worth $46,000 after purchasing an additional 603 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in Corebridge Financial in the 1st quarter worth $85,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRBG has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price on shares of Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 9th. Evercore ISI cut their price target on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays decreased their price objective on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Wolfe Research started coverage on Corebridge Financial in a research report on Friday, October 10th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley reduced their target price on Corebridge Financial from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Insider Activity

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 transaction of $39,846,984.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Corebridge Financial Trading Down 0.0%

Shares of NYSE CRBG opened at $29.90 on Friday. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.57. The company’s fifty day moving average is $32.34 and its 200-day moving average is $33.01. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.43 and a beta of 1.02. The company has a quick ratio of 0.12, a current ratio of 0.13 and a debt-to-equity ratio of 0.77.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.12). Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. Equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 17th. Corebridge Financial’s payout ratio is currently 57.14%.

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.