Corebridge Financial Inc.’s recent filing unveils that its 10% Owner AMERICAN INTERNATIONAL GROUP, unloaded Company’s shares for reported $135.07 million on Dec 18 ’23. In the deal valued at $21.75 per share,6,210,256 shares were sold. As a result of this transaction, AMERICAN INTERNATIONAL GROUP, now holds 324,203,636 shares worth roughly $9.3 billion.
Then, AMERICAN INTERNATIONAL GROUP, sold 35,000,000 shares, generating $717,500,000 in total proceeds. Upon selling the shares at $20.50, the 10% Owner now owns 330,413,892 shares.
Before that, AMERICAN INTERNATIONAL GROUP, sold 50,000,000 shares. Corebridge Financial Inc. shares valued at $1,025,000,000 were divested by the 10% Owner at a price of $20.50 per share. As a result of the transaction, AMERICAN INTERNATIONAL GROUP, now holds 365,413,892 shares, worth roughly $10.48 billion.
A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. Goldman revised its rating on April 04, 2023. It rated CRBG as “a Buy” which previously was an “a Neutral”.
Price Performance Review of CRBG
On Friday, Corebridge Financial Inc. [NYSE:CRBG] saw its stock jump 2.06% to $28.68. Over the last five days, the stock has lost -0.17%. Corebridge Financial Inc. shares have risen nearly 32.41% since the year began. Nevertheless, the stocks have risen 105.98% over the past one year. While a 52-week high of $29.40 was reached on 03/28/24, a 52-week low of $13.53 was recorded on 01/02/24. SMA at 50 days reached $25.40, while 200 days put it at $21.28. A total of 4.26 million shares were traded, compared to the trading of 4.67 million shares in the previous session.
Levels Of Support And Resistance For CRBG Stock
The 24-hour chart illustrates a support level at 28.28, which if violated will result in even more drops to 27.88. On the upside, there is a resistance level at 28.88. A further resistance level may holdings at 29.08. The Relative Strength Index (RSI) on the 14-day chart is 67.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 18.18%. Stochastics %K at 80.62% indicates the stock is a selling.
How much short interest is there in Corebridge Financial Inc.?
A steep rise in short interest was recorded in Corebridge Financial Inc. stocks on Mar 15, 2024, growing by 8.52 million shares to a total of 14.61 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.09 million shares. There was a rise of 58.32%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.09% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.59.
