5,872,642 Shares in Corebridge Financial, Inc. $CRBG Bought by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,872,642 shares of the company’s stock, valued at approximately $168,134,000. Corebridge Financial accounts for 3.0% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 13th largest position.

Several other large investors have also bought and sold shares of the stock. State of Michigan Retirement System bought a new stake in shares of Corebridge Financial in the 4th quarter valued at about $2,130,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at about $5,358,000. Vanguard Group Inc. increased its stake in shares of Corebridge Financial by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock valued at $818,906,000 after buying an additional 311,133 shares during the period. New York State Teachers Retirement System bought a new position in shares of Corebridge Financial during the fourth quarter worth about $2,072,000. Finally, State of Wyoming bought a new position in shares of Corebridge Financial during the second quarter worth about $899,000. 98.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. UBS Group increased their target price on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Mizuho raised their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $31.91 on Friday. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 0.41 and a beta of 1.08. Corebridge Financial, Inc. has a 52-week low of $22.19 and a 52-week high of $35.22. The stock’s 50 day moving average price is $31.13 and its two-hundred day moving average price is $28.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm posted $1.36 EPS. On average, equities analysts predict that Corebridge Financial, Inc. will post 4.6 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is presently 58.48%.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, EVP Elizabeth B. Cropper sold 7,745 shares of Corebridge Financial stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $33.06, for a total value of $256,049.70. Following the completion of the sale, the executive vice president directly owned 46,473 shares of the company’s stock, valued at approximately $1,536,397.38. The trade was a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Ditillo sold 12,414 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $422,076.00. Following the transaction, the insider owned 111,153 shares in the company, valued at $3,779,202. This represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 24,409 shares of company stock valued at $805,626. Insiders own 0.32% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.