Nippon Life Insurance Co. buys $5.6m Corebridge Financial shares

Nippon Life Insurance Co., a 10% owner and director of Corebridge Financial, Inc. (NASDAQ:CRBG), purchased 162,024 shares of the company’s common stock for a total value of $5,591,237.

The transaction occurred on October 19, 2026. The shares were acquired at a weighted average price of $34.5087, with individual transaction prices ranging from $34.25 to $34.95. This purchase was made under a Rule 10b5-1 trading plan, which Nippon Life Insurance Co. adopted on August 7, 2026.

Following this transaction, Nippon Life Insurance Co. directly holds 130,010,127 shares of Corebridge Financial common stock. This total includes shares held by Nissay Asset Management Corporation, a direct wholly owned subsidiary of Nippon Life Insurance Co., which Nippon Life Insurance Co. may be deemed to beneficially own.The purchase comes as CRBG trades near its 52-week high of $35.64, with the stock delivering a 34.7% return over the past six months. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value. Investors seeking deeper insights can access CRBG’s comprehensive Pro Research Report, one of 1,400+ available on the platform, along with additional ProTips and advanced metrics.

In other recent news, Corebridge Financial reported its second-quarter earnings for 2026, revealing adjusted earnings of $1.12 per share, which met 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, investors appeared optimistic about Corebridge’s performance, focusing on its strong earnings and capital returns. Additionally, Corebridge filed an 8-K with the U.S. Securities and Exchange Commission, detailing financial statements and pro forma information related to its merger with Equitable Holdings. This filing includes audited financial data for Equitable as of December 31, 2025 and 2024, and unaudited data as of June 30, 2026. The merger plans also involve a newly formed subsidiary, New Equitable, which is wholly owned by Corebridge. These developments reflect Corebridge’s ongoing strategic initiatives and financial transparency.