Morgan Stanley Upgrades Corebridge Financial to Overweight

Market Move: Morgan Stanley has upgraded Corebridge Financial's outlook to Overweight, indicating stronger confidence in its future. Investors may react positively to this signal.

Date: 02-03-2025

AI Rating: 6

Upgrade Signals Positive Outlook
Fintel reports that Morgan Stanley has upgraded Corebridge Financial from 'Equal-Weight' to 'Overweight'. This is a significant shift that indicates analysts expect better performance from the company in the future.

Fund sentiment appears to be mixed. While 834 funds or institutions are reporting positions in Corebridge Financial, representing an increase of 1.09% in ownership, total shares owned by institutions have decreased by 0.71% to 609,289K shares over the last three months. This dissonance could indicate a cautious approach among large institutional investors.

American International Group (AIG) notably decreased its holdings in Corebridge, reducing its share count from 279,239K shares to 127,283K shares, marking a significant decrease of 119.38%. This could negatively affect investor confidence or suggest concerns about the company's prospects, considering AIG's substantial ownership represented 22.89% of the company. Other shareholders such as Nippon Life Insurance and Blackstone have maintained their positions, but the decrease seen from AIG could overshadow this stability.

Price T Rowe Associates, contrastingly, increased its holdings from 25,133K shares to 32,962K shares, representing an increase of 23.75%. This uptick in investment signifies a positive sentiment, suggesting that some investors still find value in Corebridge Financial despite the changes in major institutional ownership.

Overall, while the upgrade from Morgan Stanley could drive positive sentiment, the mixed actions of major shareholders such as AIG may create uncertainty among investors about Corebridge Financial’s short-term outlook.

Stocks: AIG