Street Calls of the Week
Corebridge Financial, Inc. (NYSE:CRBG) recently disclosed significant stock transactions involving ClearBridge Energy Midstream Opportunity (SO:FTCE11B) Fund Inc. (NYSE:EMO). On March 28, Corebridge Financial, through its subsidiaries, sold a total of 140,001 shares of ClearBridge’s Series J and Series P Mandatory Redeemable Preferred Stock. The sales amounted to a total value of approximately $4.76 million, with transaction prices ranging from $33.69 to $34.31 per share. EMO, with a market capitalization of $903.69 million, has demonstrated strong performance with a 32.63% return over the past year and currently offers an attractive 8.71% dividend yield.
These transactions were conducted through Corebridge’s controlled subsidiary, American General Life Insurance (NSE:LIFI) Co., and were part of a broader investment management strategy. Following these sales, Corebridge Financial continues to hold substantial shares in ClearBridge through various subsidiaries. InvestingPro analysis reveals that EMO has maintained dividend payments for 15 consecutive years, with additional insights available to subscribers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.