Nippon Life, Corebridge Financial 10% owner, buys $6.26M stock

Nippon Life Insurance Co., a 10% shareholder and director of Corebridge Financial, made a substantial investment in the company's common stock on October 27, 2026. The transaction involved the purchase of 178,129 shares, valued at approximately $6.26 million. The shares were bought in a single trading session at prices ranging between $34.61 and $35.42, with an average cost of $35.1385 per share. This acquisition was carried out under a Rule 10b5-1 trading plan that Nippon Life had established on August 7, 2026.

Currently, Corebridge Financial's stock is trading near its 52-week high of $36, marking a significant 30% increase over the past six months. However, according to InvestingPro's analysis, the stock might be slightly overvalued compared to its Fair Value estimate. After these transactions, Nippon Life Insurance Co. now directly owns 131,623,670 shares of Corebridge Financial common stock, including 131,590,399 shares in the record holder's name and an additional 33,271 shares held by Nissay Asset Management Corporation, a direct subsidiary of Nippon Life.

The merger between Corebridge Financial and Equitable Holdings, recently announced by Corebridge, has prompted this significant investment by Nippon Life Insurance Co. The merger announcement comes with the filing of an 8-K with the U.S. Securities and Exchange Commission, which includes detailed financial statements and pro forma information related to the merger.

Despite reporting adjusted earnings of $1.12 per share, slightly below Wall Street's expectations, Corebridge Financial emphasized strong underlying earnings and steady capital returns.