Corebridge drops after AIG's $1 bln stake sale

** Shares of Corebridge Financial CRBG down 2.1% at $33.50 premarket as American International Group AIG reduces stake in secondary offering

** Life insurance and retirement services firm late Weds announced 30 mln shares offloaded by AIG at $33.65 for total gross proceeds of $1 bln

** Offering priced at 1.7% discount to CRBG stock's last sale

** Morgan Stanley sole underwriter

** Sale cuts AIG's stake from 21.15% to 15.58%, or ~79.4 mln shares

** Per LSEG data, Japan's Nippon Life Insurance is #1 holder with ~121.96 mln shares, while private equity firm Blackstone BX holds ~62 mln shares

** Corebridge has ~538.5 mln shares outstanding, per the offering prospectus, for $18.4 bln market cap,

** Through Weds close, CRBG shares up ~14% YTD

* * Of 15 analysts covering CRBG, recommendation breakdown is 11 "strong buy" or "buy", 4 "hold" and median PT is $41, LSEG data reflects