Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon acquired 131,333 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $34.88 per share, for a total transaction of $4,580,895.04. Following the acquisition, the insider owned 123,607,185 shares of the company’s stock, valued at $4,311,418,612.80. The trade was a 0.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Life Insurance Co Nippon also recently made the following trade(s):
- On Tuesday, September 22nd, Life Insurance Co Nippon bought 296,868 shares of Corebridge Financial stock. The shares were acquired at an average cost of $34.31 per share, with a total value of $10,185,541.08.
- On Monday, September 21st, Life Insurance Co Nippon bought 212,828 shares of Corebridge Financial stock. The shares were acquired at an average cost of $35.08 per share, with a total value of $7,466,006.24.
- On Thursday, September 17th, Life Insurance Co Nippon purchased 174,760 shares of Corebridge Financial stock. The stock was 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 shares were acquired at an average price of $35.02 per share, for a total transaction of $11,233,890.70.
- On Tuesday, September 15th, Life Insurance Co Nippon acquired 210,903 shares of Corebridge Financial stock. The shares were acquired 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 acquired 295,967 shares of Corebridge Financial stock. The shares were acquired 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 acquired 176,300 shares of Corebridge Financial stock. The stock was bought at an average price of $34.01 per share, with a total value of $5,995,963.00.
- On Wednesday, September 9th, Life Insurance Co Nippon bought 136,466 shares of Corebridge Financial stock. The stock was bought at an average cost of $33.78 per share, for a total transaction of $4,609,821.48.
Corebridge Financial Price Performance
Shares of Corebridge Financial stock opened at $34.02 on Friday. The stock has a market cap of $15.17 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.43 and a beta of 1.08. 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 stock’s fifty day moving average is $33.10 and its 200 day moving average is $29.06. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $35.64.
Corebridge Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s payout ratio is presently 58.48%.
Hedge Funds Weigh In On Corebridge Financial
Hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC purchased a new stake in shares of Corebridge Financial during the second quarter worth about $967,400,000. BlackRock Inc. purchased a new position in Corebridge Financial in the 2nd quarter worth approximately $726,494,000. Norges Bank purchased a new position in Corebridge Financial in the 4th quarter worth approximately $611,550,000. Dimensional Fund Advisors LP boosted its stake in Corebridge Financial by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company’s stock worth $211,575,000 after purchasing an additional 2,689,611 shares during the period. Finally, Donald Smith & CO. Inc. bought a new position in Corebridge Financial in the 2nd quarter worth approximately $168,134,000. Institutional investors own 98.25% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on CRBG shares. Mizuho increased their target price on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Jefferies Financial Group lifted their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. UBS Group upped their price target on shares of Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Piper Sandler raised their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.
Check Out 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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