Corebridge Financial (NYSE:CRBG) Major Shareholder Life Insurance Co Nippon Purchases 217,182 Shares of Stock

Corebridge Financial, Inc. (NYSE:CRBG) major shareholder Life Insurance Co Nippon bought 217,182 shares of the firm’s stock in a transaction on Wednesday, October 21st. The shares were bought at an average cost of $35.38 per share, with a total value of $7,683,899.16. Following the purchase, the insider directly owned 130,420,666 shares in the company, valued at approximately $4,614,283,163.08. This trade represents a 0.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Life Insurance Co Nippon also recently made the following trade(s):

• On Tuesday, October 20th, Life Insurance Co Nippon purchased 193,357 shares of Corebridge Financial stock. The shares were bought at an average price of $35.01 per share, for a total transaction of $6,769,428.57.
• On Monday, October 19th, Life Insurance Co Nippon purchased 162,024 shares of Corebridge Financial stock. The stock was bought at an average cost of $34.51 per share, for a total transaction of $5,591,448.24.
• On Friday, October 16th, Life Insurance Co Nippon purchased 347,195 shares of Corebridge Financial stock. The stock was bought at an average cost of $34.71 per share, for a total transaction of $12,051,138.45.
• On Thursday, October 15th, Life Insurance Co Nippon acquired 510,873 shares of Corebridge Financial stock. The shares were 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 acquired 602,103 shares of Corebridge Financial stock. The shares were purchased at an average price of $34.03 per share, with a total value of $20,489,565.09.
• On Tuesday, October 13th, Life Insurance Co Nippon acquired 253,776 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.68 per share, with a total value of $8,800,951.68.
• On Monday, October 12th, Life Insurance Co Nippon bought 143,190 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.49 per share, for a total transaction of $4,938,623.10.
• On Friday, October 9th, Life Insurance Co Nippon bought 336,750 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.07 per share, for a total transaction of $11,473,072.50.
• On Thursday, October 8th, Life Insurance Co Nippon bought 261,198 shares of Corebridge Financial stock. The stock was purchased at an average cost of $34.30 per share, for a total transaction of $8,959,091.40.
• On Wednesday, October 7th, Life Insurance Co Nippon bought 606,912 shares of Corebridge Financial stock. The stock was purchased at an average cost of $34.40 per share, for a total transaction of $20,877,772.80.

Corebridge Financial Stock Down 4.1%

CRBG opened at $34.15 on Friday. The company has a market capitalization of $15.22 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $35.64. The business has a 50-day moving average of $33.92 and a 200-day moving average of $30.59.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business earned $1.36 earnings per share. Equities research analysts forecast that Corebridge Financial, Inc. will post 4.59 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently 58.48%.

Corebridge Financial News Summary

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: Major shareholder Nippon Life continued buying CRBG shares. Nippon acquired 217,182 shares for approximately $7.7 million on October 21, following purchases of 193,357 shares for about $6.8 million on October 20 and 162,024 shares for roughly $5.6 million on October 19. The repeated buying signals confidence from a shareholder that now owns more than 130 million shares. SEC ownership filing
• Positive Sentiment: TD Cowen raised its CRBG price target from $38 to $40 and maintained a “Buy” rating. The target increase reinforces the favorable analyst outlook and suggests additional potential upside. TD Cowen raises Corebridge Financial price target
• Positive Sentiment: Other analysts remain constructive. Piper Sandler also set a $40 target with an “Overweight” rating, while Keefe, Bruyette & Woods has a $43 target and “Outperform” rating. The broader consensus is “Moderate Buy,” with an average target of $39.
• Neutral Sentiment: Recent earnings were mixed. Corebridge beat quarterly EPS expectations, reporting $1.12 versus the $1.08 consensus, but revenue of $4.30 billion missed estimates of $4.66 billion and EPS declined from $1.36 a year earlier. These results may temper enthusiasm until the next report.
• Neutral Sentiment: CRBG is trading near its annual high and above its key moving averages. That strong momentum supports the long-term case but may also encourage short-term investors to lock in gains, potentially explaining the recent weakness despite positive insider activity.
• Neutral Sentiment: The $0.25 quarterly dividend remains in place, equating to a $1.00 annualized payout and an approximately 2.8% yield, providing ongoing income support.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRBG shares. TD Cowen raised their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group increased their price target on Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 6th. Weiss Ratings raised Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their price objective on Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 7th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Institutional Investors Weigh In On Corebridge Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of Corebridge Financial by 363.8% during the third quarter. Signaturefd LLC now owns 4,643 shares of the company’s stock valued at $154,000 after acquiring an additional 3,642 shares during the period. Yousif Capital Management LLC boosted its holdings in Corebridge Financial by 3.9% in the third quarter. Yousif Capital Management LLC now owns 75,290 shares of the company’s stock valued at $2,494,000 after acquiring an additional 2,849 shares during the last quarter. Root Financial Partners LLC bought a new position in Corebridge Financial in the third quarter valued at about $91,000. Net Worth Advisory Group increased its position in Corebridge Financial by 16.0% in the third quarter. Net Worth Advisory Group now owns 8,323 shares of the company’s stock worth $280,000 after purchasing an additional 1,149 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Corebridge Financial by 5.0% in the third quarter. State of Alaska Department of Revenue now owns 24,915 shares of the company’s stock worth $825,000 after purchasing an additional 1,196 shares during the period. Institutional investors and hedge funds 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 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.