Nippon Life, 10% owner, buys $6.77 million Corebridge Financial stock
Nippon Life, 10% owner, buys $6.77 million Corebridge Financial stock
Nippon Life Insurance Co., a 10% owner and director of Corebridge Financial, Inc. (NASDAQ:CRBG), recently purchased $6.77 million worth of the company’s common stock. The transaction, which occurred on October 20, 2026, involved the acquisition of 193,357 shares.
The shares were bought at prices ranging from $34.51 to $35.34, with a weighted average price of $35.0106 per share. These purchases were executed under a Rule 10b5-1 trading plan that Nippon Life Insurance Co. adopted on August 7, 2026. The timing of the purchase is notable, as the stock is currently trading near its 52-week high of $35.64, following a strong 36% gain over the past six months.
Following these transactions, Nippon Life Insurance Co. directly holds 130,203,484 shares of Corebridge Financial common stock. This total includes 130,170,213 shares held directly by Nippon Life Insurance Co. and an additional 33,271 shares held by Nissay Asset Management Corporation, a direct wholly owned subsidiary, which Nippon Life Insurance Co. may be deemed to beneficially own. The insurance company’s stake in Corebridge, which has a market capitalization of $15.74 billion, comes as InvestingPro analysis suggests the stock is slightly overvalued relative to its Fair Value. For deeper insights into CRBG’s valuation and comprehensive analysis, investors can access the detailed Pro Research Report, available for this and 1,400+ other US equities.
In other recent news, Corebridge Financial reported its second-quarter earnings, revealing adjusted earnings of $1.12 per share, which aligned with Wall Street’s expectations. However, the company’s revenue fell short, coming in at $4.3 billion compared to the anticipated $4.75 billion. Despite the revenue miss, the company highlighted strong underlying earnings and steady capital returns. Additionally, Corebridge Financial filed an 8-K with the U.S. Securities and Exchange Commission, providing financial statements related to its merger with Equitable Holdings. This filing included audited and unaudited consolidated financial statements, along with pro forma financial information for New Equitable, a wholly-owned subsidiary of Corebridge. The merger plans have been positively received, with upbeat comments from the company regarding the merger’s prospects. These developments reflect Corebridge Financial’s ongoing strategic initiatives and financial performance.