Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) major shareholder Life Insurance Co Nippon purchased 182,826 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were purchased at an average cost of $34.95 per share, with a total value of $6,389,768.70. Following the completion of the transaction, the insider owned 131,445,541 shares of the company’s stock, valued at approximately $4,594,021,657.95. The trade was a 0.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, October 23rd, Life Insurance Co Nippon acquired 595,609 shares of Corebridge Financial stock. The stock was purchased at an average cost of $33.97 per share, for a total transaction of $20,232,837.73.
- On Thursday, October 22nd, Life Insurance Co Nippon acquired 246,440 shares of Corebridge Financial stock. The stock was purchased at an average cost of $35.15 per share, for a total transaction of $8,662,366.00.
- On Wednesday, October 21st, Life Insurance Co Nippon acquired 217,182 shares of Corebridge Financial stock. The shares were purchased at an average price of $35.38 per share, with a total value of $7,683,899.16.
- On Tuesday, October 20th, Life Insurance Co Nippon acquired 193,357 shares of Corebridge Financial stock. The shares were purchased at an average price of $35.01 per share, with a total value of $6,769,428.57.
- On Monday, October 19th, Life Insurance Co Nippon bought 162,024 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.51 per share, with a total value of $5,591,448.24.
- On Friday, October 16th, Life Insurance Co Nippon bought 347,195 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.71 per share, with a total value of $12,051,138.45.
- On Thursday, October 15th, Life Insurance Co Nippon bought 510,873 shares of Corebridge Financial stock. The stock was purchased at an average price of $33.43 per share, with a total value of $17,078,484.39.
- On Wednesday, October 14th, Life Insurance Co Nippon purchased 602,103 shares of Corebridge Financial stock. The stock was purchased at an average cost of $34.03 per share, for a total transaction of $20,489,565.09.
- On Tuesday, October 13th, Life Insurance Co Nippon purchased 253,776 shares of Corebridge Financial stock. The shares were acquired at an average cost of $34.68 per share, for a total transaction of $8,800,951.68.
- On Monday, October 12th, Life Insurance Co Nippon purchased 143,190 shares of Corebridge Financial stock. The shares were acquired at an average cost of $34.49 per share, for a total transaction of $4,938,623.10.
Corebridge Financial Stock Up 0.0%
Shares of CRBG traded up $0.00 during midday trading on Wednesday, hitting $35.36. 4,704,776 shares of the company’s stock traded hands, compared to its average volume of 4,983,719. Corebridge Financial, Inc. has a 1 year low of $22.19 and a 1 year high of $35.67. The firm’s fifty day moving average is $33.97 and its 200-day moving average is $29.78. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 0.49 and a beta of 1.07.
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $1.36 EPS. As a group, sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.59 earnings per share for the current year.
Corebridge Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently 58.48%.
Hedge Funds Weigh In On Corebridge Financial
A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in Corebridge Financial in the second quarter valued at $99,469,000. WINTON GROUP Ltd acquired a new position in shares of Corebridge Financial in the second quarter worth about $1,729,000. Nykredit A S purchased a new stake in shares of Corebridge Financial during the 2nd quarter worth about $1,347,000. Man Group plc purchased a new stake in shares of Corebridge Financial during the 2nd quarter worth about $1,089,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Corebridge Financial during the 2nd quarter worth about $2,744,000. 98.25% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on CRBG shares. TD Cowen upped their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. UBS Group lifted their target price on shares of Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price target on shares of Corebridge Financial from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Mizuho raised their price target on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.
Check Out Our Latest Stock Report on Corebridge Financial
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 and institutions through offerings designed to support retirement savings, income planning and financial protection.
Its products and services include individual and group retirement plans, annuities, life insurance and institutional retirement solutions. Corebridge also provides investment and administrative services associated with retirement plans, helping employers and employees manage long-term savings and retirement income needs.
Corebridge was established through the separation of American International Group’s (AIG) Life and Retirement business and began operating as an independent publicly traded company in 2022.
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