Nippon Life, 10% owner, buys $6.77 million Corebridge Financial stock

Nippon Life Insurance Co., a 10% owner and director of Corebridge Financial, Inc., recently acquired 193,357 shares of the company's common stock, totaling $6.77 million. The purchases, made under a Rule 10b5-1 trading plan, were executed at prices ranging from $34.51 to $35.34, with a weighted average price of $35.0106 per share.

The transaction occurred on October 20, 2026, and follows the stock's recent strong performance, trading near its 52-week high of $35.64 after a 36% gain over the past six months. Nippon Life Insurance Co. now directly holds 130,203,484 shares of Corebridge Financial common stock, including 33,271 shares held by its wholly-owned subsidiary, Nissay Asset Management Corporation.

Despite the stock being slightly overvalued according to InvestingPro analysis, Corebridge Financial reported solid earnings for Q2, with adjusted earnings per share of $1.12, although revenue fell short of expectations at $4.3 billion. The company's merger with Equitable Holdings has been positively received, with upbeat comments regarding the merger's prospects.

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