Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) major shareholder Life Insurance Co Nippon acquired 246,440 shares of the business's stock in a transaction on Thursday, October 22nd. The shares were bought at an average price of $35.15 per share, for a total transaction of $8,662,366.00. Following the acquisition, the insider owned 130,667,106 shares in the company, valued at approximately $4,592,948,775.90. This trade represents a 0.19% 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 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 Wednesday, October 21st, Life Insurance Co Nippon acquired 217,182 shares of Corebridge Financial stock. The stock was acquired at an average cost of $35.38 per share, with a total value of $7,683,899.16.
- On Tuesday, October 20th, Life Insurance Co Nippon bought 193,357 shares of Corebridge Financial stock. The stock was acquired 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 shares were bought at an average price 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 shares were purchased at an average cost of $34.71 per share, with a total value of $12,051,138.45.
- On Thursday, October 15th, Life Insurance Co Nippon purchased 510,873 shares of Corebridge Financial stock. The shares were acquired at an average price of $33.43 per share, for a total transaction of $17,078,484.39.
- On Wednesday, October 14th, Life Insurance Co Nippon purchased 602,103 shares of Corebridge Financial stock. The shares were bought 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 purchased 253,776 shares of Corebridge Financial stock. The stock was 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 stock was acquired at an average cost of $34.49 per share, for a total transaction of $4,938,623.10.
- On Friday, October 9th, Life Insurance Co Nippon acquired 336,750 shares of Corebridge Financial stock. The shares were bought at an average cost of $34.07 per share, with a total value of $11,473,072.50.
- On Thursday, October 8th, Life Insurance Co Nippon acquired 261,198 shares of Corebridge Financial stock. The shares were purchased at an average price of $34.30 per share, for a total transaction of $8,959,091.40.
Corebridge Financial Price Performance
NYSE:CRBG opened at $34.68 on Tuesday. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 0.49 and a beta of 1.07. 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 company has a 50-day moving average of $33.92 and a 200-day moving average of $29.73.
Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.04. The firm had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, equities research analysts anticipate that Corebridge Financial, Inc. will post 4.59 earnings per share for the current fiscal year.
Corebridge Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial's dividend payout ratio is 58.48%.
Analyst Ratings Changes
A number of analysts have commented on CRBG shares. Wells Fargo & Company lifted their target price on shares of Corebridge Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. UBS Group increased their target price on shares of Corebridge Financial from $32.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday, October 6th. Jefferies Financial Group increased their price target on Corebridge Financial from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Piper Sandler increased their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Corebridge Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.
View Our Latest Stock Analysis on Corebridge Financial
Hedge Funds Weigh In On Corebridge Financial
Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC acquired a new stake in Corebridge Financial during the 2nd quarter valued at $967,400,000. BlackRock Inc. bought a new position in Corebridge Financial in the 2nd quarter valued at about $726,494,000. Donald Smith & CO. Inc. acquired a new stake in Corebridge Financial during the second quarter worth approximately $168,134,000. Davis Asset Management L.P. acquired a new position in shares of Corebridge Financial in the second quarter valued at approximately $166,054,000. Finally, Wellington Management Group LLP bought a new position in shares of Corebridge Financial during the second quarter worth approximately $99,469,000. Institutional investors and hedge funds own 98.25% of the company's stock.
About Corebridge Financial
(
Get Free Report)
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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