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Corebridge Financial Inc. (CRBG) Stock Could Soon Reward Patient Investors

Corebridge Financial Inc. (NYSE: CRBG) is 30.79% higher on its value in year-to-date trading and has touched a low of $13.53 and a high of $29.40 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRBG stock was last observed hovering at around $28.31 in the last trading session, with the day’s gains setting it 0.02%.

Currently trading at $28.33, the stock is 8.45% and 13.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.22 million and changing 0.07% at the moment leaves the stock 38.38% off its SMA200. CRBG registered 96.17% gain for a year compared to 6-month gain of 52.29%. The firm has a 50-day simple moving average (SMA 50) of $1.51 and a 200-day simple moving average (SMA200) of $2.61.

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The stock witnessed a 15.63% loss in the last 1 month and extending the period to 3 months gives it a 30.79%, and is -0.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.78% over the week and 2.91% over the month.

Corebridge Financial Inc. (CRBG) has around 5700 employees, a market worth around $17.64B and $18.62B in sales. Current P/E ratio is 16.80 and Fwd P/E is 4.81. Profit margin for the company is 5.93%. Distance from 52-week low is 109.33% and -3.64% from its 52-week high. The company has generated returns on investments over the last 12 months (4.72%).

Corebridge Financial Inc. quarterly earnings per share for the current quarter are estimated at $1.12 with sales reaching $5.53B over the same period.The EPS is expected to grow by 20.54% this year, but quarterly earnings will post 9.10% year-over-year. Quarterly sales are estimated to grow 3.20% in year-over-year returns.

Corebridge Financial Inc. (CRBG) Top Institutional Holders

338 institutions hold shares in Corebridge Financial Inc. (CRBG), with institutional investors hold 101.63% of the company’s shares. The shares outstanding are 621.66M, and float is at 234.34M with Short Float at 6.24%. Institutions hold 101.39% of the Float.

The top institutional shareholder in the company is Blackstone Inc with over 62.65 million shares valued at $1.11 billion. The investor’s holdings represent 9.85% of the CRBG Shares outstanding. As of Jun 29, 2023, the second largest holder is Capital Research Global Investors with 28.91 million shares valued at $510.55 million to account for 4.55% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 28.14 million shares representing 4.43% and valued at over $497.02 million, while Vanguard Group Inc holds 2.44% of the shares totaling 15.5 million with a market value of $273.7 million.

Corebridge Financial Inc. (CRBG) Insider Activity

The most recent transaction is an insider sale by AMERICAN INTERNATIONAL GROUP,,the company’s10% Owner. SEC filings show that AMERICAN INTERNATIONAL GROUP, sold 6,210,256 shares of the company’s common stock on Dec 18 ’23 at a price of $21.75 per share for a total of $135.07 million. Following the sale, the insider now owns 324.2 million shares.

Corebridge Financial Inc. disclosed in a document filed with the SEC on Dec 05 ’23 that AMERICAN INTERNATIONAL GROUP, (10% Owner) sold a total of 35,000,000 shares of the company’s common stock. The trade occurred on Dec 05 ’23 and was made at $20.50 per share for $717.5 million. Following the transaction, the insider now directly holds 330.41 million shares of the CRBG stock.

Still, SEC filings show that on Nov 08 ’23, AMERICAN INTERNATIONAL GROUP, (10% Owner) disposed off 50,000,000 shares at an average price of $20.50 for $1.02 billion. The insider now directly holds 365,413,892 shares of Corebridge Financial Inc. (CRBG).

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