Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) major shareholder Life Insurance Co Nippon purchased 246,521 shares of the company's stock in a transaction on Thursday, October 29th. The stock was acquired at an average price of $35.50 per share, for a total transaction of $8,751,495.50. Following the completion of the transaction, the insider owned 132,116,089 shares of the company's stock, valued at $4,690,121,159.50. This represents a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 28th, Life Insurance Co Nippon purchased 245,898 shares of Corebridge Financial stock. The stock was acquired at an average cost of $35.26 per share, with a total value of $8,670,363.48.
- On Tuesday, October 27th, Life Insurance Co Nippon acquired 178,129 shares of Corebridge Financial stock. The shares were acquired at an average price of $35.14 per share, with a total value of $6,259,453.06.
- On Monday, October 26th, Life Insurance Co Nippon acquired 182,826 shares of Corebridge Financial stock. The shares were acquired at an average price of $34.95 per share, with a total value of $6,389,768.70.
- On Friday, October 23rd, Life Insurance Co Nippon acquired 595,609 shares of Corebridge Financial stock. The stock was acquired 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 acquired 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 bought 217,182 shares of Corebridge Financial stock. The stock was acquired at an average price of $35.38 per share, for a total transaction 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 bought 162,024 shares of Corebridge Financial stock. The shares were acquired 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 shares were acquired 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 bought 510,873 shares of Corebridge Financial stock. The shares were acquired at an average price of $33.43 per share, with a total value of $17,078,484.39.
Corebridge Financial Trading Up 0.6%
Shares of NYSE:CRBG opened at $35.03 on Tuesday. 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 stock has a market capitalization of $15.62 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.50 and a beta of 1.07. Corebridge Financial, Inc. has a 1-year low of $22.19 and a 1-year high of $36.00. The company has a 50 day moving average price of $34.19 and a 200 day moving average price of $29.87.
Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.01). Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the company posted $0.96 EPS. Corebridge Financial's quarterly revenue was down 20.0% on a year-over-year basis. On average, research analysts anticipate that Corebridge Financial, Inc. will post 4.59 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Rakuten Investment Management Inc. boosted its stake in shares of Corebridge Financial by 20.8% during the 3rd quarter. Rakuten Investment Management Inc. now owns 16,666 shares of the company's stock valued at $563,000 after buying an additional 2,869 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Corebridge Financial by 9.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 54,528 shares of the company's stock valued at $1,806,000 after acquiring an additional 4,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Corebridge Financial during the 3rd quarter valued at $54,000. ProShare Advisors LLC increased its stake in shares of Corebridge Financial by 4.7% in the third quarter. ProShare Advisors LLC now owns 9,994 shares of the company's stock worth $331,000 after acquiring an additional 445 shares during the last quarter. Finally, Vise Technologies Inc. increased its stake in shares of Corebridge Financial by 24.4% in the third quarter. Vise Technologies Inc. now owns 12,718 shares of the company's stock worth $421,000 after acquiring an additional 2,491 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.
Key Stories Impacting Corebridge Financial
Here are the key news stories impacting Corebridge Financial this week:
- Positive Sentiment: Corebridge reported third-quarter earnings of $1.22 per share, up from $0.96 a year earlier. Results were essentially in line with the Zacks consensus estimate, although they were $0.01 below the $1.23 estimate cited by some analysts. Corebridge Financial Meets Q3 Earnings Estimates
- Positive Sentiment: Management highlighted the company’s strongest annuity sales of the year, continued momentum in advisory services and a diversified business model. The results may reassure investors about Corebridge’s recurring earnings profile and capital-allocation discipline. Corebridge Financial Announces Third Quarter 2026 Results
- Positive Sentiment: Major shareholder Life Insurance Co. Nippon purchased approximately 246,500 additional CRBG shares for about $8.8 million, increasing its already substantial position by 0.19%. The transaction may be viewed as a vote of confidence from a strategic long-term holder. Corebridge Q3 EPS Beat Hides 29% Drop in Premiums and Deposits
- Neutral Sentiment: Corebridge’s return on equity was 17.37%, while its net margin was 4.37%. These profitability measures provide support for the stock, but do not offset the quarter’s weaker top-line trends. Corebridge Financial Third-Quarter Earnings Report
- Negative Sentiment: Revenue declined 20% year over year, while premiums and deposits fell about 29%. The deterioration in new business and revenue is the main concern for investors because it could pressure future growth despite the earnings increase. Corebridge Q3 EPS Beat Hides 29% Drop in Premiums and Deposits
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on CRBG shares. Piper Sandler boosted their target price on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. UBS Group increased their price target on Corebridge Financial from $32.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, October 6th. TD Cowen increased their price target on Corebridge Financial from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 21st. Mizuho lifted their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 7th. Finally, Jefferies Financial Group boosted their price objective on Corebridge Financial from $43.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.
Get Our Latest Report on Corebridge Financial
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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