KBC Group NV Has $36.59 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

KBC Group NV raised its position in Corebridge Financial, Inc. (NYSE:CRBG) by 77.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,222,448 shares of the company’s stock after purchasing an additional 535,323 shares during the period. KBC Group NV owned 0.21% of Corebridge Financial worth $36,588,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Corebridge Financial during the 3rd quarter valued at $27,000. Fortitude Family Office LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC bought a new position in shares of Corebridge Financial during the 4th quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Corebridge Financial in the 3rd quarter valued at about $28,000. Finally, ORG Wealth Partners LLC bought a new stake in Corebridge Financial in the 3rd quarter valued at about $29,000. 98.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by corporate insiders.

Corebridge Financial Stock Down 1.0 %

Shares of NYSE:CRBG opened at $32.91 on Tuesday. Corebridge Financial, Inc. has a 1 year low of $23.01 and a 1 year high of $34.66. The company has a market capitalization of $18.72 billion, a PE ratio of -15.75, a price-to-earnings-growth ratio of 0.36 and a beta of 0.92. The business has a fifty day moving average price of $31.02 and a two-hundred day moving average price of $29.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion during the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Analysts forecast that Corebridge Financial, Inc. will post 4.8 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.92 annualized dividend and a yield of 2.80%. Corebridge Financial’s payout ratio is -44.02%.

Analysts Set New Price Targets

Several research analysts have issued reports on CRBG shares. TD Cowen increased their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and an average target price of $36.43.

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.