Corebridge Financial (NYSE:CRBG) Insider David Ditillo Sells 12,414 Shares of Stock

Corebridge Financial, Inc. (NYSE:CRBG) insider David Ditillo sold 12,414 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $422,076.00. Following the completion of the sale, the insider directly owned 111,153 shares in the company, valued at $3,779,202. This represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Ditillo also recently made the following trade(s):

• On Monday, July 6th, David Ditillo sold 4,250 shares of Corebridge Financial stock. The stock was sold at an average price of $30.00, for a total transaction of $127,500.00.

Corebridge Financial Trading Down 1.1%

Shares of NYSE CRBG opened at $33.65 on Friday. Corebridge Financial, Inc. has a 1 year low of $22.19 and a 1 year high of $35.22. The stock has a market cap of $15.00 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.44 and a beta of 1.08. The firm has a 50-day moving average of $29.91 and a 200 day moving average of $28.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, sell-side analysts expect that Corebridge Financial, Inc. will post 4.55 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s payout ratio is currently 58.48%.

Hedge Funds Weigh In On Corebridge Financial

Hedge funds have recently bought and sold shares of the business. Salomon & Ludwin LLC boosted its holdings in shares of Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after purchasing an additional 520 shares during the last quarter. Bell Investment Advisors Inc bought a new position in Corebridge Financial during the second quarter valued at approximately $27,000. Sonoma Allocations LLC bought a new position in Corebridge Financial during the first quarter valued at approximately $30,000. Finally, Versant Capital Management Inc boosted its holdings in Corebridge Financial by 1,124.2% in the second quarter. Versant Capital Management Inc now owns 1,616 shares of the company’s stock worth $46,000 after purchasing an additional 1,484 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRBG. Wells Fargo & Company raised their price objective on Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler boosted their target price on Corebridge Financial from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Barclays increased their target price on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price target on Corebridge Financial from $38.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Bank of America lowered their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

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.