Corebridge Financial Inc’s recent filing unveils that its 10% Owner AMERICAN INTERNATIONAL GROUP, unloaded Company’s shares for reported $3.84 billion on Dec 09 ’24. In the deal valued at $31.47 per share,121,956,256 shares were sold. As a result of this transaction, AMERICAN INTERNATIONAL GROUP, now holds 127,282,642 shares worth roughly $4.23 billion.
Then, AMERICAN INTERNATIONAL GROUP, sold 30,000,000 shares, generating $936,000,000 in total proceeds. Upon selling the shares at $31.20, the 10% Owner now owns 249,238,898 shares.
Before that, AMERICAN INTERNATIONAL GROUP, sold 5,000,000 shares. Corebridge Financial Inc shares valued at $144,300,000 were divested by the 10% Owner at a price of $28.86 per share. As a result of the transaction, AMERICAN INTERNATIONAL GROUP, now holds 279,238,898 shares, worth roughly $9.29 billion.
BMO Capital Markets initiated its Corebridge Financial Inc [CRBG] rating to an Outperform in a research note published on January 23, 2025; the price target was $43. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in early January from “a Hold” to “a Buy”. Barclays also remained covering CRBG and has increased its forecast on January 06, 2025 with a “an Overweight” recommendation from previously “an Equal weight” rating. TD Cowen started covering the stock on October 09, 2024. It rated CRBG as “a Buy”.
Price Performance Review of CRBG
On Friday, Corebridge Financial Inc [NYSE:CRBG] saw its stock jump 1.90% to $33.26. Over the last five days, the stock has gained 4.92%. Corebridge Financial Inc shares have risen nearly 11.13% since the year began. Nevertheless, the stocks have risen 35.92% over the past one year. While a 52-week high of $34.66 was reached on 01/24/25, a 52-week low of $23.01 was recorded on 01/13/25. SMA at 50 days reached $30.98, while 200 days put it at $29.48.
Levels Of Support And Resistance For CRBG Stock
The 24-hour chart illustrates a support level at 32.85, which if violated will result in even more drops to 32.43. On the upside, there is a resistance level at 33.48. A further resistance level may holdings at 33.69. The Relative Strength Index (RSI) on the 14-day chart is 68.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.37, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.52%. Stochastics %K at 92.15% 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 2024-12-31, growing by 2.67 million shares to a total of 8.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 5.53 million shares. There was a rise of 32.57%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on September 05, 2024 when Barclays began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $33 price target.
