Corebridge Financial (NYSE:CRBG) Stock: Insider Life Insurance Co Nippon Buys 116,345 Shares

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

Shares of CRBG stock traded down $0.01 during mid-day trading on Thursday, hitting $34.39. The stock had a trading volume of 4,871,136 shares, compared to its average volume of 4,969,257. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $35.64. The firm has a market cap of $15.33 billion, a PE ratio of 20.11, a PEG ratio of 0.45 and a beta of 1.07. 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 company’s 50-day simple moving average is $33.57 and its 200-day simple moving average is $29.71.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same period in the prior year, the company posted $1.36 earnings per share. Sell-side analysts anticipate that Corebridge Financial, Inc. will post 4.64 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a $0.25 dividend. 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 (DPR) is currently 58.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in shares of Corebridge Financial by 23.7% during the second quarter. Sequoia Financial Advisors LLC now owns 14,676 shares of the company’s stock valued at $420,000 after buying an additional 2,814 shares during the period. Tidal Investments LLC grew its stake in Corebridge Financial by 42.8% in the 2nd quarter. Tidal Investments LLC now owns 93,351 shares of the company’s stock worth $2,673,000 after acquiring an additional 27,992 shares during the period. National Pension Service raised its holdings in Corebridge Financial by 83.2% in the 2nd quarter. National Pension Service now owns 20,647 shares of the company’s stock valued at $591,000 after acquiring an additional 9,375 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Corebridge Financial during the 2nd quarter worth $1,729,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Corebridge Financial during the 2nd quarter worth $4,186,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Corebridge Financial

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

• Positive Sentiment: Major shareholder continues buying. Life Insurance Co. Nippon purchased 65,711 CRBG shares for approximately $2.3 million on October 5 at an average price of $34.75. This followed purchases of 187,155 shares on October 2 and 272,208 shares on October 1. The repeated buying has lifted Nippon’s direct ownership to approximately 126.7 million shares and may be viewed as a vote of confidence in Corebridge’s valuation and outlook. Insider buying article
• Positive Sentiment: Analysts raised their price targets. Mizuho increased its target from $38 to $40 and maintained an “outperform” rating. Barclays raised its target from $33 to $39 and kept an “overweight” rating. The revisions imply meaningful upside from recent trading levels and reinforce the positive analyst sentiment toward CRBG. Analyst ratings coverage
• Positive Sentiment: Institutional ownership remains strong. Institutional investors own approximately 98.25% of Corebridge shares, while Wellington Management initiated a position valued at roughly $99.5 million during the second quarter. Strong institutional participation can provide additional support for the stock.
• Neutral Sentiment: Shares are trading close to their annual high. CRBG remains well above its 50-day and 200-day moving averages but is approaching its 52-week high of $35.64. This reflects strong recent momentum, although the proximity to that high could limit near-term upside or encourage profit-taking.
• Negative Sentiment: Fundamental concerns remain. Corebridge’s latest quarterly EPS exceeded estimates, but revenue missed expectations and EPS declined from the prior-year period. Analysts expect approximately $4.64 in full-year EPS, so continued earnings growth will be important to justify further gains.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group boosted their price target on Corebridge Financial from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Barclays lifted their price objective on Corebridge Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group lifted their price target on Corebridge Financial from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.58.

About Corebridge Financial

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.