Donald Smith & CO. Inc. Has $144.96 Million Holdings in Corebridge Financial, Inc. $CRBG

Donald Smith & CO. Inc. increased its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,083,348 shares of the company’s stock after acquiring an additional 72,664 shares during the period. Corebridge Financial makes up about 3.4% of Donald Smith & CO. Inc.’s holdings, making the stock its 9th biggest position. Donald Smith & CO. Inc. owned 0.76% of Corebridge Financial worth $144,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRBG. IFP Advisors Inc grew its position in shares of Corebridge Financial by 1,223.6% during the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after purchasing an additional 673 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Corebridge Financial in the 2nd quarter valued at about $26,000. Assetmark Inc. boosted 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 valued at $33,000 after acquiring an additional 356 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Corebridge Financial by 66.7% during the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after purchasing an additional 581 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Corebridge Financial by 86.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,303 shares of the company’s stock valued at $46,000 after purchasing an additional 603 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Corebridge Financial Trading Up 0.2%

Shares of CRBG stock opened at $30.33 on Friday. The business has a 50-day moving average of $30.76 and a 200 day moving average of $32.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.57. The stock has a market capitalization of $15.78 billion, a PE ratio of 18.05, a P/E/G ratio of 0.42 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.12). The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $4.85 billion. Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. As a group, sell-side 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 disclosed 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 of this dividend is Wednesday, December 17th. Corebridge Financial’s dividend payout ratio is 57.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on CRBG. Wolfe Research began coverage on shares of Corebridge Financial in a report on Friday, October 10th. They issued a “peer perform” rating on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $33.00 target price (down previously from $39.00) on shares of Corebridge Financial in a research note on Monday, November 17th. Barclays lowered their price target on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 9th. Finally, Evercore ISI decreased their price objective on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

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.