Donald Smith & CO. Inc. Has $126.41 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Donald Smith & CO. Inc. lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,335,096 shares of the company’s stock after purchasing an additional 489,545 shares during the period. Corebridge Financial accounts for about 3.0% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 12th biggest holding. Donald Smith & CO. Inc.’s holdings in Corebridge Financial were worth $126,411,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRBG. Canada Pension Plan Investment Board grew its stake in Corebridge Financial by 249.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company’s stock valued at $183,894,000 after buying an additional 4,507,322 shares during the last quarter. Capital Research Global Investors boosted its stake in Corebridge Financial by 9.9% during the 1st quarter. Capital Research Global Investors now owns 33,841,160 shares of the company’s stock valued at $972,257,000 after purchasing an additional 3,059,354 shares during the period. Marshall Wace LLP grew its stake in shares of Corebridge Financial by 201.1% in the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company’s stock worth $116,723,000 after acquiring an additional 2,677,105 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Corebridge Financial by 150.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company’s stock worth $103,707,000 after acquiring an additional 2,137,594 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Corebridge Financial by 263.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,827,963 shares of the company’s stock valued at $81,233,000 after purchasing an additional 2,050,331 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRBG has been the topic of several research reports. Barclays boosted their price objective on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. TD Cowen assumed coverage on Corebridge Financial in a research note on Wednesday, October 9th. They set a “buy” rating and a $35.00 price target on the stock. UBS Group increased their target price on shares of Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Morgan Stanley lowered their target price on Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Royal Bank of Canada lowered their price objective on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.46.

Corebridge Financial Stock Performance

Shares of CRBG stock traded up $0.42 on Wednesday, hitting $32.42. The company’s stock had a trading volume of 337,913 shares, compared to its average volume of 3,868,970. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial, Inc. has a fifty-two week low of $18.83 and a fifty-two week high of $34.66. The stock’s 50 day moving average is $29.17 and its 200-day moving average is $28.91. The company has a market capitalization of $19.19 billion, a PE ratio of 10.10, a PEG ratio of 0.42 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $5.73 billion. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.57%. During the same quarter last year, the business earned $1.04 EPS. Equities research analysts expect that Corebridge Financial, Inc. will post 4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.08% of the company’s stock.

About Corebridge Financial

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.