SG Americas Securities LLC Has $366,000 Stake in Corebridge Financial, Inc. $CRBG

SG Americas Securities LLC trimmed its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 91.4% during the second quarter, Holdings Channel reports. The fund owned 10,305 shares of the company’s stock after selling 109,296 shares during the quarter. SG Americas Securities LLC’s holdings in Corebridge Financial were worth $366,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in CRBG. Cetera Investment Advisers raised its position in shares of Corebridge Financial by 25.3% in the first quarter. Cetera Investment Advisers now owns 25,216 shares of the company’s stock valued at $796,000 after purchasing an additional 5,091 shares during the period. LPL Financial LLC grew its stake in Corebridge Financial by 3.8% in the 1st quarter. LPL Financial LLC now owns 180,778 shares of the company’s stock valued at $5,707,000 after buying an additional 6,593 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Corebridge Financial by 168.5% in the 1st quarter. Mackenzie Financial Corp now owns 86,403 shares of the company’s stock worth $2,728,000 after acquiring an additional 54,222 shares during the period. Federated Hermes Inc. lifted its position in Corebridge Financial by 8.9% during the 1st quarter. Federated Hermes Inc. now owns 382,975 shares of the company’s stock worth $12,091,000 after acquiring an additional 31,410 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its holdings in Corebridge Financial by 79.6% during the first quarter. Jefferies Financial Group Inc. now owns 30,528 shares of the company’s stock valued at $964,000 after acquiring an additional 13,528 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

Shares of CRBG stock opened at $30.02 on Friday. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $36.57. The company has a market capitalization of $15.63 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.41 and a beta of 1.02. The stock has a 50 day moving average of $31.09 and a two-hundred day moving average of $32.85. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.77.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Tuesday, November 4th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $4.85 billion. Corebridge Financial had a net margin of 5.01% and a return on equity of 19.90%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, equities analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 17th. Corebridge Financial’s payout ratio is 57.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRBG shares. Wells Fargo & Company dropped their price objective on Corebridge Financial from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wolfe Research started coverage on Corebridge Financial in a report on Friday, October 10th. They issued a “peer perform” rating on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corebridge Financial in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and issued a $33.00 price objective (down previously from $39.00) on shares of Corebridge Financial in a research note on Monday, November 17th. Finally, Wall Street Zen upgraded shares of Corebridge Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 1,184,160 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $33.65, for a total value of $39,846,984.00. Following the sale, the insider owned 82,711,853 shares of the company’s stock, valued at $2,783,253,853.45. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.29% 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.