To the Moon? What is going on with CRBG?

Shares of Corebridge Financial rose to $33.85 during today's morning trading session. Despite the 12.2% change, the Large-Cap Life Insurance company still trades 7.73% above its average analyst target price of $31.42. So there may be further downside for the Life Insurance stock. Corebridge Financial has target prices ranging from $21.0 to $40.0 per share, and its average rating is buy.

The stock has an above average percentage of its shares sold short at 9.4%, and a short ratio of 7.22. The company's insiders own 0.24% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 104.6% of Corebridge Financial's shares being owned by this investor type.

Institutions Invested in Corebridge Financial

Date Reported Holder Percentage Shares Value
2024-03-31 American International Group, Inc. 53% 324,205,501 $10,974,355,714
2024-03-31 Blackstone Inc 10% 61,962,123 $2,097,417,769
2024-03-31 Capital Research Global Investors 6% 33,841,160 $1,145,523,214
2024-03-31 Vanguard Group Inc 4% 25,128,367 $850,595,184
2024-03-31 Price (T.Rowe) Associates Inc 4% 23,655,301 $800,731,902
2024-03-31 Harris Associates L.P. 2% 14,520,676 $491,524,860
2023-12-31 Norges Bank Investment Management 2% 10,413,730 $352,504,744
2024-03-31 Massachusetts Financial Services Co. 2% 9,971,102 $337,521,787
2024-03-31 Hotchkis & Wiley Capital Management, LLC 2% 9,962,072 $337,216,121
2024-03-31 TD Asset Management, Inc 1% 7,389,214 $250,124,882

Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Corebridge Financial.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.