Robeco Institutional Asset Management B.V. Increases Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Robeco Institutional Asset Management B.V. lifted its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 25.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,251,058 shares of the company’s stock after buying an additional 462,917 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Corebridge Financial were worth $65,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRBG. Swedbank AB bought a new position in shares of Corebridge Financial during the 2nd quarter valued at approximately $5,639,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Corebridge Financial during the first quarter valued at $1,134,000. Russell Investments Group Ltd. grew its stake in shares of Corebridge Financial by 30.1% in the 1st quarter. Russell Investments Group Ltd. now owns 697,825 shares of the company’s stock worth $19,990,000 after buying an additional 161,247 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $16,489,000. Finally, Forsta AP Fonden bought a new stake in shares of Corebridge Financial in the 1st quarter worth about $1,979,000. Institutional investors own 98.25% of the company’s stock.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRBG. TD Cowen started coverage on Corebridge Financial in a research report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price objective on the stock. Morgan Stanley lowered their price target on Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Piper Sandler cut their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Bank of America lowered their target price on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Barclays lifted their price target on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.46.

Corebridge Financial Stock Down 0.2 %

CRBG stock opened at $31.55 on Tuesday. The company has a market capitalization of $18.68 billion, a P/E ratio of 9.83, a price-to-earnings-growth ratio of 0.44 and a beta of 0.90. Corebridge Financial, Inc. has a 12 month low of $18.83 and a 12 month high of $34.66. The firm’s fifty day simple moving average is $29.44 and its 200-day simple moving average is $29.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.14 and a quick ratio of 0.14.

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.