Corebridge Financial Inc.’s recently made public that its 10% Owner AMERICAN INTERNATIONAL GROUP, unloaded Company’s shares for reported $180.2 million on Jun 23. In the deal valued at $16.41 per share,10,981,108 shares were sold. As a result of this transaction, AMERICAN INTERNATIONAL GROUP, now holds 415,413,892 shares worth roughly $ 7.49 billion.
Then, AMERICAN INTERNATIONAL GROUP, sold 74,750,000 shares, generating $1,214,687,500 in total proceeds. Upon selling the shares at $16.25, the 10% Owner now owns 426,395,000 shares.
Before that, Colberg Alan B. bought 30,000 shares. Corebridge Financial Inc. shares valued at $687,474 were divested by the Director at a price of $22.92 per share. As a result of the transaction, Colberg Alan B. now holds 37,858 shares, worth roughly $0.68 million.
PT values the company’s stock at a premium of 5.05 to its Tuesday closing price.
Price Performance Review of CRBG
On Tuesday, Corebridge Financial Inc. [NYSE:CRBG] saw its stock fall -0.06% to $18.04. On the same session, the stock had its day’s lowest price of $18.02, but rose to a high of $18.40. Over the last five days, the stock has gained 0.73%. Corebridge Financial Inc. shares have fallen nearly -6.68% since the year began. SMA at 50 days reached $18.35, while 200 days put it at $18.63. A total of 1.83 million shares were traded, compared to the trading of 0.8 million shares in the previous session.
Levels Of Support And Resistance For CRBG Stock
The 24-hour chart illustrates a support level at 17.91, which if violated will result in even more drops to 17.77. On the upside, there is a resistance level at 18.29. A further resistance level may holdings at 18.53. The Relative Strength Index (RSI) on the 14-day chart is 48.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 36.00%. Stochastics %K at 66.01% indicates the stock is a holding.
How much short interest is there in Corebridge Financial Inc.?
A steep rise in short interest was recorded in Corebridge Financial Inc. stocks on Aug 14, 2023, dropping by -2.03 million shares to a total of 5.93 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 7.96 million shares. There was a decline of -34.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.42% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.58.
Corebridge Financial Inc. [CRBG] – Who Are The Largest Shareholders?
In filings from Capital Research & Management Co, it is revealed that the company now owns 28,910,078 shares, or roughly 4.46% of the outstanding CRBG shares. In other words, the investor’s shares have risen by 22,766,559 from its previous 13-F filing of 6143519.0. Additionally, T. Rowe Price Associates, Inc. increased 49.00% of its stake after which the total value it holdings stand at $519,427,263, while The Vanguard Group, Inc. added 123.88% of its stake to hold $287.99 million in the firm. Over the last quarter, Harris Associates LP purchased 11,200,231 shares of Corebridge Financial Inc., while Norges Bank Investment Management bought 5,753,228 shares. At present, Zimmer Partners LP is holding 5,304,617 shares valued at $99.25 million. Hotchkis & Wiley Capital Manageme owned 4,875,849 shares of the company at the time of its most recent 13F filing, worth $91.23 million.
According to FactSet, Corebridge Financial Inc.’s share price will average $24.92 in the next year, based on opinions of analysts polled by the firm. This is up nearly 38.5 percent from its previous closing price of $18.05. Analysts expect Corebridge Financial Inc. stock to reach the higher price of $31.00, while the lowest price estimate is $20.00. However, 15 analysts have rated CRBG stock as a Buy in their predictions for 2023.