Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon bought 272,208 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were acquired at an average cost of $33.07 per share, with a total value of $9,001,918.56. Following the completion of the purchase, the insider owned 126,416,895 shares in the company, valued at approximately $4,180,606,717.65. This represents a 0.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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 30th, Life Insurance Co Nippon purchased 348,215 shares of Corebridge Financial stock. The stock was acquired at an average price of $33.65 per share, for a total transaction of $11,717,434.75.
- On Tuesday, September 29th, Life Insurance Co Nippon acquired 216,818 shares of Corebridge Financial stock. The shares were acquired at an average cost of $33.67 per share, for a total transaction of $7,300,262.06.
- On Monday, September 28th, Life Insurance Co Nippon acquired 805,782 shares of Corebridge Financial stock. The stock was acquired at an average price of $34.15 per share, with a total value of $27,517,455.30.
- On Friday, September 25th, Life Insurance Co Nippon purchased 178,840 shares of Corebridge Financial stock. The shares were bought at an average cost of $34.52 per share, for a total transaction of $6,173,556.80.
- On Thursday, September 24th, Life Insurance Co Nippon purchased 258,878 shares of Corebridge Financial stock. The shares were bought at an average cost of $33.85 per share, for a total transaction of $8,763,020.30.
- On Wednesday, September 23rd, Life Insurance Co Nippon purchased 219,273 shares of Corebridge Financial stock. The stock was bought at an average price of $34.13 per share, with a total value 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, with a total value 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, for a total transaction 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, for a total transaction of $4,580,895.04.
- On Thursday, September 17th, Life Insurance Co Nippon bought 174,760 shares of Corebridge Financial stock. The stock was bought at an average cost of $35.20 per share, with a total value of $6,151,552.00.
Corebridge Financial Price Performance
Corebridge Financial stock traded up $0.80 during mid-day trading on Monday, reaching $34.83. The company had a trading volume of 3,584,541 shares, compared to its average volume of 4,984,413. The stock’s 50-day simple moving average is $33.40 and its 200-day simple moving average is $29.48. Corebridge Financial, Inc. has a 1 year low of $22.19 and a 1 year high of $35.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $15.52 billion, a P/E ratio of 20.37, a P/E/G ratio of 0.43 and a beta of 1.07.
Corebridge Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, September 16th. Corebridge Financial’s payout ratio is presently 58.48%.
Analyst Upgrades and Downgrades
CRBG has been the subject of several research reports. Mizuho lifted their price target on Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. 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. UBS Group increased their price target on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company increased their target price on Corebridge Financial from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.42.
Get Our Latest Analysis on CRBG
Institutional Investors Weigh In On Corebridge Financial
Several hedge funds have recently made changes to their positions in CRBG. Sequoia Financial Advisors LLC increased its stake in Corebridge Financial by 23.7% in the second quarter. Sequoia Financial Advisors LLC now owns 14,676 shares of the company’s stock valued at $420,000 after purchasing an additional 2,814 shares during the last quarter. Tidal Investments LLC grew its holdings in Corebridge Financial by 42.8% in the 2nd quarter. Tidal Investments LLC now owns 93,351 shares of the company’s stock valued at $2,673,000 after buying an additional 27,992 shares during the period. National Pension Service grew 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 valued at $591,000 after purchasing an additional 9,375 shares during the period. WINTON GROUP Ltd acquired a new position in Corebridge Financial during the second quarter worth approximately $1,729,000. Finally, Engineers Gate Manager LP acquired a new position in Corebridge Financial during the second quarter worth approximately $4,186,000. Institutional investors and hedge funds own 98.25% of the company’s stock.
About Corebridge Financial
Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutional clients through businesses focused on retirement services, life insurance and institutional markets.
Its offerings include fixed, variable and registered index-linked annuities; individual life insurance; employer-sponsored retirement plans; and investment, funding and risk-management solutions for institutions.
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