Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) major shareholder Life Insurance Co Nippon acquired 182,826 shares of Corebridge Financial stock in a transaction dated Monday, October 26th. The shares were purchased at an average price of $34.95 per share, with a total value of $6,389,768.70. Following the acquisition, the insider owned 131,445,541 shares of the company's stock, valued at approximately $4,594,021,657.95. This trade represents a 0.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's stock 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 bought 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 bought 246,440 shares of Corebridge Financial stock. The shares were purchased at an average price of $35.15 per share, for a total transaction of $8,662,366.00.
- On Wednesday, October 21st, Life Insurance Co Nippon purchased 217,182 shares of Corebridge Financial stock. The shares were purchased 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 purchased 193,357 shares of Corebridge Financial stock. The shares were purchased at an average cost of $35.01 per share, with a total value of $6,769,428.57.
- On Monday, October 19th, Life Insurance Co Nippon purchased 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 purchased 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 acquired 510,873 shares of Corebridge Financial stock. The stock was purchased at an average cost of $33.43 per share, for a total transaction of $17,078,484.39.
- On Wednesday, October 14th, Life Insurance Co Nippon acquired 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 acquired 253,776 shares of Corebridge Financial stock. The shares were purchased at an average price of $34.68 per share, for a total transaction of $8,800,951.68.
- On Monday, October 12th, Life Insurance Co Nippon acquired 143,190 shares of Corebridge Financial stock. The shares were purchased at an average price of $34.49 per share, for a total transaction of $4,938,623.10.
Corebridge Financial Stock Up 0.0%
CRBG opened at $35.36 on Thursday. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $35.67. 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 company has a market capitalization of $15.76 billion, a P/E ratio of 20.68, a P/E/G ratio of 0.49 and a beta of 1.07. The stock has a fifty day moving average of $34.01 and a 200-day moving average of $29.80.
Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results 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 net margin of 4.37% and a return on equity of 17.37%. The company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the previous year, the business posted $1.36 earnings per share. On average, equities analysts expect that Corebridge Financial, Inc. will post 4.59 EPS for the current year.
Corebridge Financial Announces Dividend
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. The ex-dividend date was Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 2.8%. Corebridge Financial's payout ratio is 58.48%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CRBG. Pzena Investment Management LLC bought a new stake in Corebridge Financial during the second quarter worth about $967,400,000. BlackRock Inc. acquired a new stake in Corebridge Financial during the second quarter worth about $726,494,000. Dimensional Fund Advisors LP grew its stake in Corebridge Financial by 43.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company's stock worth $211,575,000 after buying an additional 2,689,611 shares in the last quarter. Donald Smith & CO. Inc. bought a new position in Corebridge Financial in the 2nd quarter valued at about $168,134,000. Finally, Davis Asset Management L.P. bought a new position in Corebridge Financial in the 2nd quarter valued at about $166,054,000. Institutional investors own 98.25% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on CRBG shares. Wells Fargo & Company boosted their price objective on shares of Corebridge Financial from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, October 12th. UBS Group raised 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. Barclays lifted their price target on shares of Corebridge Financial from $33.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. 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 research note on Tuesday, August 11th. Finally, Piper Sandler increased their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
Get Our Latest Stock Analysis on CRBG
Corebridge Financial Company Profile
(
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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