Corebridge Financial, Inc. $CRBG Stock: Robeco Institutional Asset Management B.V. Trims Stake

Robeco Institutional Asset Management B.V. cut its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 523,523 shares of the company’s stock after selling 29,369 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.12% of Corebridge Financial worth $17,339,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC acquired a new stake in Corebridge Financial during the second quarter worth about $967,400,000. BlackRock Inc. acquired a new position in Corebridge Financial in the second quarter valued at approximately $726,494,000. Donald Smith & CO. Inc. acquired a new position in Corebridge Financial in the second quarter valued at approximately $168,134,000. Davis Asset Management L.P. acquired a new position in Corebridge Financial in the second quarter valued at approximately $166,054,000. Finally, Wellington Management Group LLP bought a new position in shares of Corebridge Financial during the second quarter valued at approximately $99,469,000. Institutional investors own 98.25% of the company’s stock.

More Corebridge Financial News

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: Major shareholder Nippon Life continued buying CRBG shares. Nippon acquired 217,182 shares for approximately $7.7 million on October 21, following purchases of 193,357 shares for about $6.8 million on October 20 and 162,024 shares for roughly $5.6 million on October 19. The repeated buying signals confidence from a shareholder that now owns more than 130 million shares. SEC ownership filing
• Positive Sentiment: TD Cowen raised its CRBG price target from $38 to $40 and maintained a “Buy” rating. The target increase reinforces the favorable analyst outlook and suggests additional potential upside. TD Cowen raises Corebridge Financial price target
• Positive Sentiment: Other analysts remain constructive. Piper Sandler also set a $40 target with an “Overweight” rating, while Keefe, Bruyette & Woods has a $43 target and “Outperform” rating. The broader consensus is “Moderate Buy,” with an average target of $39.
• Neutral Sentiment: Recent earnings were mixed. Corebridge beat quarterly EPS expectations, reporting $1.12 versus the $1.08 consensus, but revenue of $4.30 billion missed estimates of $4.66 billion and EPS declined from $1.36 a year earlier. These results may temper enthusiasm until the next report.
• Neutral Sentiment: CRBG is trading near its annual high and above its key moving averages. That strong momentum supports the long-term case but may also encourage short-term investors to lock in gains, potentially explaining the recent weakness despite positive insider activity.
• Neutral Sentiment: The $0.25 quarterly dividend remains in place, equating to a $1.00 annualized payout and an approximately 2.8% yield, providing ongoing income support.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRBG. TD Cowen increased their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays boosted their price objective on Corebridge Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. UBS Group upped their price objective on Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods increased their target price on Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.00.

Insiders Place Their Bets

In related news, major shareholder Life Insurance Co Nippon bought 217,182 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was purchased at an average price of $35.38 per share, for a total transaction of $7,683,899.16. Following the transaction, the insider directly owned 130,420,666 shares of the company’s stock, valued at approximately $4,614,283,163.08. This represents a 0.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have bought 8,259,995 shares of company stock valued at $283,393,906 and have sold 28,895 shares valued at $983,886. 0.32% of the stock is owned by insiders.

Corebridge Financial Trading Down 4.1%

Shares of CRBG stock opened at $34.15 on Friday. 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, Inc. has a 1 year low of $22.19 and a 1 year high of $35.64. The stock has a fifty day moving average of $33.92 and a two-hundred day moving average of $30.59. The firm has a market capitalization of $15.22 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.51 and a beta of 1.07.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%. During the same quarter in the prior year, the business posted $1.36 earnings per share. As a group, research analysts expect that Corebridge Financial, Inc. will post 4.59 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 2.9%. Corebridge Financial’s dividend payout ratio is presently 58.48%.

Corebridge Financial Profile

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutions through offerings designed to support retirement savings, income planning and financial protection.

Its products and services include individual and group retirement plans, annuities, life insurance and institutional retirement solutions. Corebridge also provides investment and administrative services associated with retirement plans, helping employers and employees manage long-term savings and retirement income needs.

Corebridge was established through the separation of American International Group’s (AIG) Life and Retirement business and began operating as an independent publicly traded company in 2022.