Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon bought 178,840 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The stock was acquired at an average price of $34.52 per share, for a total transaction of $6,173,556.80. Following the transaction, the insider owned 124,773,872 shares in the company, valued at $4,307,194,061.44. This trade represents a 0.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Life Insurance Co Nippon also recently made the following trade(s):
- On Thursday, September 24th, Life Insurance Co Nippon purchased 258,878 shares of Corebridge Financial stock. The shares were acquired at an average price of $33.85 per share, with a total value of $8,763,020.30.
- On Wednesday, September 23rd, Life Insurance Co Nippon acquired 219,273 shares of Corebridge Financial stock. The stock was bought at an average price of $34.13 per share, for a total transaction of $7,483,787.49.
- On Tuesday, September 22nd, Life Insurance Co Nippon acquired 296,868 shares of Corebridge Financial stock. The stock was bought at an average price of $34.31 per share, for a total transaction of $10,185,541.08.
- On Monday, September 21st, Life Insurance Co Nippon bought 212,828 shares of Corebridge Financial stock. The stock was 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 bought 131,333 shares of Corebridge Financial stock. The shares were bought at an average price 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 bought 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 bought at an average cost of $35.02 per share, for a total transaction of $11,233,890.70.
- On Tuesday, September 15th, Life Insurance Co Nippon purchased 210,903 shares of Corebridge Financial stock. The stock was bought at an average cost of $35.02 per share, for a total transaction of $7,385,823.06.
- On Monday, September 14th, Life Insurance Co Nippon acquired 295,967 shares of Corebridge Financial stock. The stock was bought at an average price of $34.86 per share, with a total value of $10,317,409.62.
- On Thursday, September 10th, Life Insurance Co Nippon acquired 176,300 shares of Corebridge Financial stock. The shares were bought at an average cost of $34.01 per share, with a total value of $5,995,963.00.
Corebridge Financial Trading Down 0.1%
Shares of Corebridge Financial stock traded down $0.04 on Tuesday, hitting $33.74. The stock had a trading volume of 5,799,903 shares, compared to its average volume of 4,970,265. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $35.64. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.45 and a beta of 1.08. The stock’s 50-day simple moving average is $33.21 and its two-hundred day simple moving average is $29.19.
Corebridge Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio is 58.48%.
Institutional Trading of Corebridge Financial
A number of hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC purchased a new stake in shares of Corebridge Financial in the 2nd quarter worth about $967,400,000. BlackRock Inc. bought a new position in shares of Corebridge Financial during the 2nd quarter valued at $726,494,000. Norges Bank bought a new position in shares of Corebridge Financial during the 4th quarter valued at $611,550,000. Donald Smith & CO. Inc. purchased a new position in shares of Corebridge Financial in the 2nd quarter worth $168,134,000. Finally, Davis Asset Management L.P. purchased a new position in shares of Corebridge Financial in the 2nd quarter worth $166,054,000. Institutional investors own 98.25% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CRBG shares. UBS Group raised their target price on Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. TD Cowen increased their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Barclays lifted their price objective on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Mizuho upped their target price on Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and an average target price of $37.42.
Read Our Latest Stock Analysis on CRBG
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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