Key Points
- Nippon Life continued buying Corebridge shares, acquiring 227,773 shares for about $7.89 million at an average $34.62. It now directly owns roughly 132.3 million shares, and the article lists several additional purchases in October.
- Corebridge reported quarterly EPS of $1.22, slightly below the $1.23 consensus, while revenue of $4.50 billion missed the $5.36 billion estimate and fell 20% year over year.
- The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a stated 2.8% yield.
Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) major shareholder Life Insurance Co Nippon acquired 227,773 shares of the stock in a transaction dated Friday, October 30th. The stock was bought at an average price of $34.62 per share, with a total value of $7,885,501.26. Following the purchase, the insider directly owned 132,343,862 shares in the company, valued at $4,581,744,502.44. This represents a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Thursday, October 29th, Life Insurance Co Nippon bought 246,521 shares of Corebridge Financial stock. The shares were bought at an average price of $35.50 per share, for a total transaction of $8,751,495.50.
- On Wednesday, October 28th, Life Insurance Co Nippon bought 245,898 shares of Corebridge Financial stock. The shares were bought at an average cost of $35.26 per share, for a total transaction of $8,670,363.48.
- On Tuesday, October 27th, Life Insurance Co Nippon bought 178,129 shares of Corebridge Financial stock. The shares were bought at an average cost of $35.14 per share, for a total transaction of $6,259,453.06.
- On Monday, October 26th, Life Insurance Co Nippon purchased 182,826 shares of Corebridge Financial stock. The stock was bought 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 purchased 595,609 shares of Corebridge Financial stock. The stock was bought at an average price of $33.97 per share, with a total value of $20,232,837.73.
- On Thursday, October 22nd, Life Insurance Co Nippon purchased 246,440 shares of Corebridge Financial stock. The stock was bought at an average cost of $35.15 per share, with a total value of $8,662,366.00.
- On Wednesday, October 21st, Life Insurance Co Nippon acquired 217,182 shares of Corebridge Financial stock. The shares were bought 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 acquired 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 acquired 162,024 shares of Corebridge Financial stock. The shares were 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 acquired 347,195 shares of Corebridge Financial stock. The shares were bought at an average cost of $34.71 per share, for a total transaction of $12,051,138.45.
Corebridge Financial Stock Performance
Shares of CRBG opened at $35.81 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a 50-day moving average of $34.26 and a 200-day moving average of $29.90. The company has a market cap of $15.96 billion, a PE ratio of 7.60, a P/E/G ratio of 0.50 and a beta of 1.05. Corebridge Financial, Inc. has a one year low of $22.19 and a one year high of $36.56.
Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $1.22 EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($0.01). Corebridge Financial had a net margin of 11.37% and a return on equity of 18.51%. The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The business's quarterly revenue was down 20.0% on a year-over-year basis. On average, equities research analysts predict that Corebridge Financial, Inc. will post 4.59 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, December 17th. Corebridge Financial's dividend payout ratio (DPR) is 58.48%.
Wall Street Analysts Forecast Growth
CRBG has been the subject of several recent research reports. UBS Group boosted their price objective on Corebridge Financial from $32.00 to $36.00 and gave the company a "neutral" rating in a report on Tuesday, October 6th. Wells Fargo & Company increased their target price on Corebridge Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Jefferies Financial Group lifted their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Corebridge Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 29th. Finally, Barclays boosted their price target on shares of Corebridge Financial from $33.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.
View Our Latest Report on CRBG
Institutional Investors Weigh In On Corebridge Financial
Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC acquired a new position in Corebridge Financial during the 2nd quarter valued at about $967,400,000. BlackRock Inc. bought a new stake in Corebridge Financial during the 2nd quarter worth approximately $726,494,000. Dimensional Fund Advisors LP increased its holdings in Corebridge Financial by 43.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company's stock worth $211,575,000 after purchasing an additional 2,689,611 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in Corebridge Financial during the 2nd quarter worth approximately $168,134,000. Finally, Davis Asset Management L.P. purchased a new stake in shares of Corebridge Financial in the second quarter worth approximately $166,054,000. Institutional investors and hedge funds own 98.25% of the company's stock.
Corebridge Financial News Summary
Here are the key news stories impacting Corebridge Financial this week:
- Positive Sentiment: Corebridge reported Q3 earnings of $1.22 per share, up from $0.96 a year earlier and essentially in line with Zacks’ consensus estimate. Management also cited its strongest annuity sales of the year, momentum in advisory, and a diversified business model. Corebridge Financial Announces Third Quarter 2026 Results
- Positive Sentiment: Major shareholder Nippon Life made multiple open-market purchases, including about 246,500 shares for roughly $8.8 million. The ongoing buying may be seen as a signal of confidence, though it represents a small increase relative to its large existing stake. Nippon Life Share Purchase
- Neutral Sentiment: Corebridge declared a quarterly dividend of $0.25 per share, or $1.00 annualized, for a stated yield of 2.8%. The payout may appeal to income investors but is not, by itself, a major change to the outlook. Dividend Announcement
- Negative Sentiment: Revenue was $4.50 billion, below the $5.36 billion analyst estimate and down 20% year over year. A separate report flagged a roughly 29% decline in premiums and deposits, raising concerns about business volumes and future growth despite higher EPS. Corebridge Q3 Premiums and Deposits Report
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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