Insider Buying: Corebridge Financial (NYSE:CRBG) Major Shareholder Acquires $6,413,801.85 in Stock

Corebridge Financial, Inc. (NYSE:CRBG) major shareholder Life Insurance Co Nippon acquired 187,155 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were bought at an average cost of $34.27 per share, with a total value of $6,413,801.85. Following the completion of the acquisition, the insider owned 126,604,050 shares of the company’s stock, valued at approximately $4,338,720,793.50. This trade represents a 0.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Tuesday, October 6th, Life Insurance Co Nippon bought 116,345 shares of Corebridge Financial stock. The stock was purchased at an average price of $35.23 per share, for a total transaction of $4,098,834.35.
• On Monday, October 5th, Life Insurance Co Nippon bought 65,711 shares of Corebridge Financial stock. The shares were purchased at an average price of $34.75 per share, with a total value of $2,283,457.25.
• On Thursday, October 1st, Life Insurance Co Nippon bought 272,208 shares of Corebridge Financial stock. The shares were purchased at an average price of $33.07 per share, with a total value of $9,001,918.56.
• On Wednesday, September 30th, Life Insurance Co Nippon purchased 348,215 shares of Corebridge Financial stock. The shares were purchased at an average cost of $33.65 per share, with a total value of $11,717,434.75.
• On Tuesday, September 29th, Life Insurance Co Nippon purchased 216,818 shares of Corebridge Financial stock. The stock was 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 purchased 805,782 shares of Corebridge Financial stock. The stock was purchased at an average price of $34.15 per share, for a total transaction of $27,517,455.30.
• On Friday, September 25th, Life Insurance Co Nippon acquired 178,840 shares of Corebridge Financial stock. The shares were purchased at an average cost of $34.52 per share, for a total transaction of $6,173,556.80.
• On Thursday, September 24th, Life Insurance Co Nippon acquired 258,878 shares of Corebridge Financial stock. The shares were purchased at an average cost of $33.85 per share, with a total value of $8,763,020.30.
• On Wednesday, September 23rd, Life Insurance Co Nippon bought 219,273 shares of Corebridge Financial stock. The stock was purchased 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 purchased 296,868 shares of Corebridge Financial stock. The shares were bought at an average price of $34.31 per share, for a total transaction of $10,185,541.08.

Corebridge Financial Stock Down 0.0%

Shares of NYSE CRBG opened at $34.39 on Friday. Corebridge Financial, Inc. has a 12-month low of $22.19 and a 12-month high of $35.64. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $29.79. The company has a market cap of $15.33 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 0.44 and a beta of 1.07.

Corebridge Financial (NYSE:CRBG) last issued 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 business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same quarter last year, the business posted $1.36 earnings per share. On average, research analysts expect that Corebridge Financial, Inc. will post 4.64 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid 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 58.48%.

Corebridge Financial News Roundup

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

• Positive Sentiment: Major shareholder continues buying. Life Insurance Co. Nippon purchased 116,345 shares at an average price of $35.23 on October 6, following purchases of 65,711 shares on October 5 and 187,155 shares on October 2. The repeated buying has increased Nippon’s direct stake to approximately 126.8 million shares and may signal confidence in CRBG’s valuation and long-term outlook. SEC ownership filing
• Positive Sentiment: Analysts raised price targets. Mizuho lifted its target from $38 to $40 and maintained an “outperform” rating, while Barclays increased its target from $33 to $39 and retained an “overweight” rating. These revisions imply additional upside and reinforce the bullish analyst view of Corebridge.
• Positive Sentiment: Recent earnings exceeded expectations. Corebridge reported quarterly adjusted earnings of $1.12 per share, above the $1.08 consensus estimate. Its dividend of $0.25 per quarter also provides an annualized yield of roughly 2.9%, adding support for income-focused investors.
• Neutral Sentiment: Analyst sentiment is favorable but not unanimous. Corebridge has a consensus “Moderate Buy” rating, although some analysts maintain neutral or hold recommendations. The average target remains below the most bullish forecasts, suggesting expectations for further gains are positive but measured.
• Negative Sentiment: Revenue and year-over-year earnings remain concerns. Although the latest EPS result beat estimates, revenue of $4.30 billion fell short of the $4.66 billion consensus, and earnings declined from $1.36 per share in the year-earlier quarter. These results could limit upside if upcoming performance does not improve.

Institutional Trading of Corebridge Financial

A number of hedge funds have recently modified their holdings of CRBG. GAMMA Investing LLC raised its holdings in Corebridge Financial by 15.8% in the third quarter. GAMMA Investing LLC now owns 5,836 shares of the company’s stock worth $193,000 after purchasing an additional 796 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Corebridge Financial by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 5,583 shares of the company’s stock worth $185,000 after purchasing an additional 590 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Corebridge Financial by 23.7% in the 2nd 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 holdings in shares of Corebridge Financial by 42.8% in the 2nd quarter. Tidal Investments LLC now owns 93,351 shares of the company’s stock valued at $2,673,000 after buying an additional 27,992 shares during the period. Finally, National Pension Service increased its position in shares of 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 buying an additional 9,375 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Mizuho upped their target price on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings raised Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.58.

Corebridge Financial Company Profile

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.