Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon acquired 258,878 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was purchased at an average price of $33.85 per share, with a total value of $8,763,020.30. Following the completion of the transaction, the insider directly owned 124,595,032 shares of the company’s stock, valued at $4,217,541,833.20. This trade represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Life Insurance Co Nippon also recently made the following trade(s):
- On Wednesday, September 23rd, Life Insurance Co Nippon acquired 219,273 shares of Corebridge Financial stock. The shares were acquired at an average cost of $34.13 per share, with a total value of $7,483,787.49.
- On Tuesday, September 22nd, Life Insurance Co Nippon purchased 296,868 shares of Corebridge Financial stock. The stock was acquired at an average cost of $34.31 per share, for a total transaction of $10,185,541.08.
- On Monday, September 21st, Life Insurance Co Nippon acquired 212,828 shares of Corebridge Financial stock. The shares were bought at an average cost of $35.08 per share, with a total value of $7,466,006.24.
- On Friday, September 18th, Life Insurance Co Nippon purchased 131,333 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.88 per share, with a total value of $4,580,895.04.
- On Thursday, September 17th, Life Insurance Co Nippon purchased 174,760 shares of Corebridge Financial stock. The shares were acquired at an average price of $35.20 per share, for a total transaction of $6,151,552.00.
- On Wednesday, September 16th, Life Insurance Co Nippon purchased 320,785 shares of Corebridge Financial stock. The stock was acquired at an average cost of $35.02 per share, with a total value of $11,233,890.70.
- On Tuesday, September 15th, Life Insurance Co Nippon acquired 210,903 shares of Corebridge Financial stock. The shares were bought at an average cost of $35.02 per share, with a total value of $7,385,823.06.
- On Monday, September 14th, Life Insurance Co Nippon purchased 295,967 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.86 per share, with a total value of $10,317,409.62.
- On Thursday, September 10th, Life Insurance Co Nippon purchased 176,300 shares of Corebridge Financial stock. The shares were acquired at an average price of $34.01 per share, for a total transaction of $5,995,963.00.
- On Wednesday, September 9th, Life Insurance Co Nippon bought 136,466 shares of Corebridge Financial stock. The shares were acquired at an average price of $33.78 per share, with a total value of $4,609,821.48.
Corebridge Financial Trading Down 3.2%
Shares of NYSE CRBG traded down $1.11 during midday trading on Monday, hitting $33.76. 5,927,434 shares of the company traded hands, compared to its average volume of 4,965,778. The stock has a 50-day moving average price of $33.16 and a 200 day moving average price of $29.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $15.05 billion, a P/E ratio of 19.74, a P/E/G ratio of 0.45 and a beta of 1.08. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $35.64.
Corebridge Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 3.0%. Corebridge Financial’s payout ratio is 58.48%.
Wall Street Analyst Weigh In
CRBG has been the topic of several research analyst reports. Jefferies Financial Group upped their target price on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research upgraded shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Mizuho lifted their price objective on Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on Corebridge Financial from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.42.
View Our Latest Report on Corebridge Financial
Institutional Investors Weigh In On Corebridge Financial
Large investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in shares of Corebridge Financial by 23.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,676 shares of the company’s stock worth $420,000 after purchasing an additional 2,814 shares during the last quarter. Tidal Investments LLC grew its stake in Corebridge Financial by 42.8% during the 2nd quarter. Tidal Investments LLC now owns 93,351 shares of the company’s stock worth $2,673,000 after buying an additional 27,992 shares during the last quarter. National Pension Service boosted its holdings in Corebridge Financial by 83.2% in the second quarter. National Pension Service now owns 20,647 shares of the company’s stock worth $591,000 after acquiring an additional 9,375 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Corebridge Financial in the 2nd quarter valued at approximately $1,729,000. Finally, Engineers Gate Manager LP purchased a new stake in Corebridge Financial during the 2nd quarter worth approximately $4,186,000. Institutional investors own 98.25% of the company’s stock.
Corebridge Financial Company Profile
Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers, financial professionals and institutional clients through a range of businesses focused on helping customers build, preserve and receive income from their assets.
Its products and services include individual and group annuities, retirement plan solutions, life insurance and institutional insurance offerings. Corebridge also provides investment, recordkeeping and related administrative services for workplace retirement plans, as well as solutions designed to support financial institutions and other institutional customers.
Corebridge was established through the separation of American International Group’s life and retirement business and began operating as an independent publicly traded company in 2022.
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