Corebridge: A Favorable Interest Rate Environment Supports Ongoing Upside [Seeking Alpha]
Corebridge Financial Inc. (CRBG)
Company Research
Source: Seeking Alpha
The company's operating earnings rose 12% in its latest report, and it is on track to reach its target return on equity of 12-14% in the coming years. CRBG's income growth is driven by increased base spread income and strength in equity markets, which should continue in 2024. Increased repurchases and a potential index inclusion offset the risk of AIG share sales. Corebridge Financial ( NYSE: CRBG ) has been a strong performer over the past year, steadily rising about 62% and now trading near a 52-week-high. The company has performed well with significant capital returns, which has more than offset any headwind from share sales by its former parent, American International Group ( AIG ). Since recommending shares as a "strong buy" in December , CRBG has returned about 21%, outpacing the S&P 500's 11% increase. In that piece, I argued shares were worth $28-30, so even with the rally, material upside would remain. Accordingly, with updated financials in hand, now is an opportune t
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CRBG
News
- Gen Z Beginning Financial Planning Earlier Than Previous Generations [Yahoo! Finance]Yahoo! Finance
- Gen Z Beginning Financial Planning Earlier Than Previous GenerationsBusiness Wire
- Corebridge Financial, Inc. (NYSE: CRBG) had its price target raised by analysts at Morgan Stanley from $26.00 to $28.00. They now have an "equal weight" rating on the stock.MarketBeat
- Corebridge Financial, Inc. (NYSE: CRBG) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $32.00 price target on the stock.MarketBeat
- Corebridge Financial, Inc. (NYSE: CRBG) had its price target raised by analysts at Evercore ISI from $30.00 to $32.00. They now have an "outperform" rating on the stock.MarketBeat
CRBG
Earnings
- 2/15/24 - Beat
CRBG
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- CRBG's page on the SEC website