Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Hancock Whitney Corp

Hancock Whitney Corp lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,182 shares of the company’s stock after purchasing an additional 922 shares during the period. Hancock Whitney Corp’s holdings in Corebridge Financial were worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CRBG. Daiwa Securities Group Inc. increased its holdings in Corebridge Financial by 3.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 54,500 shares of the company’s stock worth $1,589,000 after acquiring an additional 1,900 shares in the last quarter. Swedbank AB increased its stake in shares of Corebridge Financial by 3.2% during the third quarter. Swedbank AB now owns 199,807 shares of the company’s stock worth $5,826,000 after purchasing an additional 6,143 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Corebridge Financial by 104.4% during the third quarter. Cerity Partners LLC now owns 21,595 shares of the company’s stock worth $630,000 after purchasing an additional 11,029 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Corebridge Financial by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,738,163 shares of the company’s stock worth $50,685,000 after purchasing an additional 148,834 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Corebridge Financial by 2.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,483,856 shares of the company’s stock worth $305,709,000 after buying an additional 284,781 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Insider Activity at Corebridge Financial

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $31.86 on Tuesday. The company’s 50 day simple moving average is $30.36 and its 200-day simple moving average is $29.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a 1 year low of $20.07 and a 1 year high of $34.66. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of -15.24, a price-to-earnings-growth ratio of 0.41 and a beta of 0.90.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.21. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 4.78 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.89%. The ex-dividend date is Tuesday, December 17th. Corebridge Financial’s payout ratio is -44.02%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRBG. Morgan Stanley increased their target price on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen assumed coverage on Corebridge Financial in a research note on Wednesday, October 9th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada lowered their target price on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Piper Sandler reduced their target price on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays boosted their price target on shares of Corebridge Financial from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.85.

Corebridge Financial Company 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.