Corebridge Financial (NYSE:CRBG) Major Shareholder Life Insurance Co Nippon Acquires 116,345 Shares of Stock

Corebridge Financial, Inc. (NYSE:CRBG) major shareholder Life Insurance Co Nippon acquired 116,345 shares of Corebridge Financial stock in a transaction dated Tuesday, October 6th. The shares were bought at an average cost of $35.23 per share, with a total value of $4,098,834.35. Following the transaction, the insider owned 126,786,106 shares in the company, valued at approximately $4,466,674,514.38. This trade represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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 Monday, October 5th, Life Insurance Co Nippon bought 65,711 shares of Corebridge Financial stock. The shares were bought at an average price of $34.75 per share, for a total transaction of $2,283,457.25.
• On Friday, October 2nd, Life Insurance Co Nippon purchased 187,155 shares of Corebridge Financial stock. The stock was bought at an average price of $34.27 per share, with a total value of $6,413,801.85.
• On Thursday, October 1st, Life Insurance Co Nippon purchased 272,208 shares of Corebridge Financial stock. The stock was bought at an average price of $33.07 per share, with a total value of $9,001,918.56.
• On Wednesday, September 30th, Life Insurance Co Nippon purchased 348,215 shares of Corebridge Financial stock. The stock was bought at an average cost of $33.65 per share, with a total value of $11,717,434.75.
• On Tuesday, September 29th, Life Insurance Co Nippon acquired 216,818 shares of Corebridge Financial stock. The shares were bought at an average price 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 shares were bought at an average cost of $34.15 per share, for a total transaction of $27,517,455.30.
• On Friday, September 25th, Life Insurance Co Nippon bought 178,840 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.52 per share, with a total value of $6,173,556.80.
• On Thursday, September 24th, Life Insurance Co Nippon bought 258,878 shares of Corebridge Financial stock. The stock was purchased at an average cost of $33.85 per share, with a total value of $8,763,020.30.
• On Wednesday, September 23rd, Life Insurance Co Nippon purchased 219,273 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.13 per share, for a total transaction of $7,483,787.49.
• On Tuesday, September 22nd, Life Insurance Co Nippon purchased 296,868 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.31 per share, for a total transaction of $10,185,541.08.

Corebridge Financial Trading Down 0.0%

Shares of Corebridge Financial stock opened at $34.39 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $35.64. The stock has a 50 day moving average price of $33.62 and a two-hundred day moving average price of $29.79. The stock has a market capitalization of $15.33 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 0.44 and a beta of 1.07.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, equities analysts anticipate that Corebridge Financial, Inc. will post 4.64 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is 58.48%.

Corebridge Financial News Summary

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

• Positive Sentiment: Major shareholder continues buying. Life Insurance Co. Nippon purchased 116,345 shares at an average price of $35.23 on October 6, following purchases of 65,711 shares on October 5 and 187,155 shares on October 2. The repeated buying has increased Nippon’s direct stake to approximately 126.8 million shares and may signal confidence in CRBG’s valuation and long-term outlook. SEC ownership filing
• Positive Sentiment: Analysts raised price targets. Mizuho lifted its target from $38 to $40 and maintained an “outperform” rating, while Barclays increased its target from $33 to $39 and retained an “overweight” rating. These revisions imply additional upside and reinforce the bullish analyst view of Corebridge.
• Positive Sentiment: Recent earnings exceeded expectations. Corebridge reported quarterly adjusted earnings of $1.12 per share, above the $1.08 consensus estimate. Its dividend of $0.25 per quarter also provides an annualized yield of roughly 2.9%, adding support for income-focused investors.
• Neutral Sentiment: Analyst sentiment is favorable but not unanimous. Corebridge has a consensus “Moderate Buy” rating, although some analysts maintain neutral or hold recommendations. The average target remains below the most bullish forecasts, suggesting expectations for further gains are positive but measured.
• Negative Sentiment: Revenue and year-over-year earnings remain concerns. Although the latest EPS result beat estimates, revenue of $4.30 billion fell short of the $4.66 billion consensus, and earnings declined from $1.36 per share in the year-earlier quarter. These results could limit upside if upcoming performance does not improve.

Analyst Ratings Changes

CRBG has been the topic of several analyst reports. TD Cowen lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Piper Sandler upped their price target on Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Barclays raised their price objective on Corebridge Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group upped 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. Finally, Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.58.

Institutional Trading of Corebridge Financial

A number of institutional investors and hedge funds have recently modified their holdings of CRBG. Wellington Management Group LLP purchased a new stake in Corebridge Financial during the second quarter worth about $99,469,000. WINTON GROUP Ltd purchased a new position in Corebridge Financial in the second quarter valued at about $1,729,000. Nykredit A S bought a new position in shares of Corebridge Financial during the 2nd quarter valued at approximately $1,347,000. Man Group plc bought a new position in shares of Corebridge Financial during the 2nd quarter valued at approximately $1,089,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Corebridge Financial during the 2nd quarter worth approximately $2,744,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

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 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.