T. Rowe Price Associates, Inc. has recently announced that it has increased stake in Corebridge Financial Inc. (NYSE:CRBG) by 5.51%. After grabbing 29.29 million shares, the institutional investor is now in possession of 1.53 million shares of the Financial Company. The new investment brought the stake of investor firm to 4.64% having worth around $615.99 million. Moreover, Capital Research & Management Co increased its share by 5887.0 to have a control over 28.92 million shares. And The Vanguard Group, Inc. raised its holdings to 1.56 million shares by acquiring 16.95 million shares or 2.69% of the stake.
Corebridge Financial Inc. (CRBG) concluded trading on December 20, 2023 at a closing price of $21.60, with 3.71 million shares of worth about $80.24 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 38.40% during that period and On Wednesday the price saw a loss of about -2.13%. Currently the company’s common shares owned by public are about 645.00M shares, out of which, 242.90M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 503,650 shares in 19 of the transactions. In 33 selling transactions, insiders dumped 136,067,561 shares.
American Funds Growth Fund of Ame, Government Pension Fund – Global, and T Rowe Price Value Fund are the top 3 mutual funds which are holding stakes in Corebridge Financial Inc. American Funds Growth Fund of Ame is currently holding 26.77 million shares of worth totaling $563.03 million. The company recently came buying 0.21 million shares which brought its stake up to 4.24% of the company’s outstanding shares. T Rowe Price Value Fund, after buying 5.15 million shares, have now control over 0.82% of the stake in the company. It holds 0.1 million shares of worth $108.28 million.
However, the stock later moved at a day high price of 22.05, or with a loss of -2.13%. Stock saw a price change of 0.79% in past 5 days and over the past one month there was a price change of 9.81%. Year-to-date (YTD), CRBG shares are showing a performance of 18.63% which increased to 22.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.72 but also hit the highest price of $22.26 during that period. The average intraday trading volume for Corebridge Financial Inc. shares is 3.90 million. The stock is currently trading 3.54% above its 20-day simple moving average (SMA20), while that difference is up 7.84% for SMA50 and it goes to 25.30% higher than SMA200.
T. Rowe Price Associates, Inc. acquired 29.29 million shares of Corebridge Financial Inc. having value of about $615.99 million. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 1.53 million shares in the company valued at close to $33022814.4, or have control over 5.51% stake in the company. Corebridge Financial Inc. (NYSE: CRBG) currently have 645.00M outstanding shares and institutions hold larger chunk of about 25.43% of that. Holding of mutual funds in the company is about 52.69% while other institutional holders and individual stake holders have control over 9.79% and 16.37% of the stake respectively.
The stock has a current market capitalization of $14.00B and its 3Y-monthly beta is at 0.91. PE ratio of stock for trailing 12 months is 7.49, while it has posted earnings per share of $2.88 in the same period. Its PEG reads 0.45 while making debt-to-equity ratio of 1.43. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRBG, volatility over the week remained 2.65% while standing at 2.19% over the month.
Analysts are in expectations that Corebridge Financial Inc. (CRBG) stock would likely to be making an EPS of $Corebridge Financial Inc. in the current quarter, while forecast for next quarter EPS is $21.60 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Smart Powerr Corp. which is $Corbus Pharmaceuticals Holdings at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Capital City Bank Group in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 43.36% while it is estimated to increase by 20.20% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on July 11, 2023 offering a Neutral rating for the stock and assigned a target price range of between $18 and $19 to it.
