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Stock impact report

Corebridge Financial (CRBG) Stock Is Up, What You Need To Know [Yahoo! Finance]

Allete, Inc. (ALE) 
Last allete, inc. earnings: 2/13 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.allete.com/investor-relations
Company Research Source: Yahoo! Finance
S&P Dow Jones Indices announced that the life insurance and retirement services firm would replace Allete Inc. in the index, with the change set to take effect before trading opened on Wednesday, December 17. A company's inclusion in a major index is often viewed positively because investment funds that track the index are then required to purchase the company's shares. This action created new demand for the stock. According to one analyst, passive funds were expected to purchase approximately 33 million Corebridge shares, which implied about 6.5 days of buying demand. After the initial pop the shares cooled down to $32.21, up 2.1% from previous close. Is now the time to buy Corebridge Financial? Access our full analysis report here Corebridge Financial's shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundam Show less Read more
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