Campbell & CO Investment Adviser LLC Invests $333,000 in Corebridge Financial, Inc. $CRBG

Campbell & CO Investment Adviser LLC bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,392 shares of the company’s stock, valued at approximately $333,000.

Several other hedge funds also recently added to or reduced their stakes in CRBG. Assetmark Inc. lifted its position in shares of Corebridge Financial by 60.9% during the 2nd quarter. Assetmark Inc. now owns 941 shares of the company’s stock worth $33,000 after buying an additional 356 shares during the last quarter. Brooklyn Investment Group boosted its stake in Corebridge Financial by 66.7% in the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock valued at $46,000 after acquiring an additional 581 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Corebridge Financial by 86.1% during the second 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. Forum Financial Management LP increased its position in shares of Corebridge Financial by 4.0% during the second quarter. Forum Financial Management LP now owns 16,360 shares of the company’s stock worth $581,000 after purchasing an additional 630 shares in the last quarter. Finally, 3Chopt Investment Partners LLC increased its position in shares of Corebridge Financial by 7.2% during the second quarter. 3Chopt Investment Partners LLC now owns 9,883 shares of the company’s stock worth $351,000 after purchasing an additional 663 shares in the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder International Group American sold 1,184,160 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 82,711,853 shares in the company, valued at $2,783,253,853.45. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $29.10 on Monday. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $36.57. The company has a 50-day moving average price of $31.90 and a 200 day moving average price of $33.04. The company has a market cap of $15.15 billion, a P/E ratio of 17.32, a PEG ratio of 0.40 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 (NYSE:CRBG) last issued its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the company posted $1.23 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Research analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, December 17th. Corebridge Financial’s payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRBG shares. Barclays decreased their target price on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI lowered their target price on shares of Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company cut their target price 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. Wolfe Research assumed coverage on shares of Corebridge Financial in a research note on Friday, October 10th. They set a “peer perform” rating for the company. Finally, Morgan Stanley dropped their price objective on shares of Corebridge Financial from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

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.