Corebridge Financial, Inc. (CRBG)
NYSE:CRBG
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Corebridge Financial, Inc.
(NYSE:CRBG)
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Rating:65Neutral
Price Target:
$28.00
â–²(4.67% Upside)
Action:Reiterated
Date:05/13/26
The score is driven primarily by mixed financial performance (strong cash flow but volatile/low profitability) and a positive earnings call outlook centered on the Equitable merger and quantified synergy targets. Technicals are only neutral-to-mixed, and valuation support comes mainly from the dividend yield while the negative P/E reflects earnings instability.
Positive Factors
Strong cash generation
Consistent, positive operating and free cash flow provides durable internal funding for capital returns, buybacks and merger integration costs. That steady cash generation supports liquidity, debt service and strategic investments, helping the company execute scale initiatives over the medium term.
Negative Factors
Thin, volatile profitability
Low net margins, a prior-year loss and depressed ROE indicate limited earnings cushion. Over the medium term this weak income‑statement quality reduces the firm’s ability to absorb adverse mortality, spread or investment shocks and constrains internal capital accumulation despite scale gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, positive operating and free cash flow provides durable internal funding for capital returns, buybacks and merger integration costs. That steady cash generation supports liquidity, debt service and strategic investments, helping the company execute scale initiatives over the medium term.
Read all positive factors
Corebridge Financial, Inc. (CRBG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.47B
Dividend Yield3.14%
Average Volume (3M)4.90M
Price to Earnings (P/E)―
Beta (1Y)1.39
Revenue Growth15.55%
EPS Growth-52.60%
CountryUS
Employees5,200
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.55
Shares Outstanding456,733,120
10 Day Avg. Volume4,664,186
30 Day Avg. Volume4,903,696
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)1.23
Price to Sales (P/S)5.63
P/FCF Ratio8.05
Enterprise Value/Market Cap1.85
Enterprise Value/Revenue3.70
Enterprise Value/Gross Profit4.76
Enterprise Value/Ebitda16.29
Forecast
1Y Price Target
$34.19Price Target Upside27.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)4.89
Revenue Forecast (FY)$20.67B
Corebridge Financial, Inc. Business Overview & Revenue Model
Company Description
Corebridge Financial, Inc. provides retirement solutions and insurance products in the United States. It operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segmen...
How the Company Makes Money
Corebridge makes money primarily from insurance and retirement-related product economics and asset-based fees. Key revenue and earnings drivers include: (1) Annuities: Earnings are generated from annuity products (including fixed, fixed indexed, a...
Corebridge Financial, Inc. Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasizes multiple substantive positives: a strategic merger with clear synergy targets, robust underlying operating performance (ex-VII), meaningful fee and asset growth, strong capital/liquidity, and prioritized investments in customer experience and digital capabilities. The primary negatives are a short-term drag from variable investment income, some spread and underwriting pressure versus a strong prior-year comp, transitional impacts in group retirement as the business shifts to fee-based earnings, and ordinary integration/execution risks tied to the merger. Management provided quantified improvements (EPS +13% ex-VII, run-rate EPS +9%, adjusted ROE +120 bps) and clear mitigation plans for investment exposures and integration, suggesting the positives outweigh the near-term headwinds.Positive Updates
Transformative Merger with Equitable
Announced merger creating a diversified financial services company with more than 12 million customers and $1.5 trillion in assets under management and administration; targeted $500 million of run-rate expense synergies plus additional revenue, tax and capital synergies; management expects earnings to exceed $5 billion and cash generation to top $4 billion per year by 2027 and 10%+ EPS/cash generation improvement by year-end 2028.
Negative Updates
Variable Investment Income (VII) Underperformance
VII underperformed in the quarter due to unrealized mark-to-market losses on certain fair-value investments and other timing/nonrecurring marks; this pressure reduced reported results in Q1 and management expects VII to be slightly better in Q2 but possibly still below expectations given market volatility.
Read all updates
Q1-2026 Updates
Positive
Negative
Transformative Merger with Equitable
Announced merger creating a diversified financial services company with more than 12 million customers and $1.5 trillion in assets under management and administration; targeted $500 million of run-rate expense synergies plus additional revenue, tax and capital synergies; management expects earnings to exceed $5 billion and cash generation to top $4 billion per year by 2027 and 10%+ EPS/cash generation improvement by year-end 2028.
Read all positive updates
Company Guidance
The company reiterated robust forward guidance tied to the pending Equitable merger (3 franchises, >12 million customers, ~$1.5 trillion AUM/AUA) including $500 million of identified expense synergies plus additional revenue, tax and capital upside, immediate EPS and cash accretion and a target that earnings exceed $5.0 billion and cash generation top $4.0 billion by 2027 (with EPS and cash‑generation growth rates >10% by year‑end 2028). Q1 reported metrics and near‑term guidance included adjusted pretax operating income of $629 million, GAAP EPS $1.05 (run‑rate operating EPS $1.17, +9% YoY; EPS ex‑VII/notables +13% YoY), adjusted ROE 10.6% (~12% run‑rate, +120 bps ex‑VII/notables), holding‑company liquidity >$1.7 billion, Q1 capital return $1.4 billion (completed VA reinsurance proceeds $1.8 billion), FY‑2026 insurance dividends expected ~$2.3 billion (including $300 million Benra Bulls), reaffirmed IR full‑year spread income ~ $2.55 billion, fee income +9% YoY, spread income +1% YoY, underwriting margin -2% YoY, Individual Retirement sales $4.3 billion with ~$0.5 billion net general‑account inflows, Group Retirement advisory/brokerage AUMA +14% YoY with net flows >$300 million and ~60% fee‑based earnings, Life sales $850 million with seasonal mortality $15–20 million, Institutional reserves +18% with $1 billion of GICs issued, and long‑term alternative investment return target of 8–9%; private debt sits at $49 billion of $284 billion total portfolio (91% investment grade), middle‑market lending $3.3 billion (1% of portfolio) and BDC debt $1.7 billion.Corebridge Financial, Inc. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
58
Neutral
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.22B | 2.89B | 2.68B | 2.36B | 1.88B | 22.10B |
| Gross Profit | 4.84B | 2.34B | 2.12B | 1.78B | 1.34B | 14.05B |
| EBITDA | 1.41B | 567.00M | 3.55B | 1.89B | 11.61B | 11.08B |
| Net Income | 245.00M | -366.00M | 2.23B | 1.10B | 8.16B | 7.36B |
Balance Sheet | ||||||
| Total Assets | 381.40B | 413.55B | 389.40B | 379.27B | 360.32B | 416.21B |
| Cash, Cash Equivalents and Short-Term Investments | 373.00M | 66.54B | 63.92B | 171.47B | 161.75B | 204.58B |
| Total Debt | 10.92B | 10.91B | 12.39B | 11.87B | 15.33B | 15.68B |
| Total Liabilities | 369.86B | 399.59B | 377.07B | 366.63B | 350.00B | 387.28B |
| Stockholders Equity | 10.80B | 13.20B | 11.46B | 11.77B | 9.38B | 27.09B |
Cash Flow | ||||||
| Free Cash Flow | 1.64B | 2.02B | 2.15B | 3.36B | 2.62B | 2.40B |
| Operating Cash Flow | 1.64B | 2.02B | 2.15B | 3.36B | 2.62B | 2.40B |
| Investing Cash Flow | -11.98B | -13.33B | -11.54B | -5.38B | -7.25B | -1.97B |
| Financing Cash Flow | 10.33B | 10.94B | 9.58B | 2.02B | 4.67B | -753.00M |
Corebridge Financial, Inc. Technical Analysis
Neutral
26.75
Price Trends
25.99
Positive
28.01
Negative
30.14
Negative
Market Momentum
0.28
Negative
61.66
Neutral
81.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRBG, the sentiment is Neutral. The current price of 26.75 is above the 20-day moving average (MA) of 24.48, above the 50-day MA of 25.99, and below the 200-day MA of 30.14, indicating a neutral trend. The MACD of 0.28 indicates Negative momentum. The RSI at 61.66 is Neutral, neither overbought nor oversold. The STOCH value of 81.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CRBG.
Corebridge Financial, Inc. Risk Analysis
Corebridge Financial, Inc. disclosed 44 risk factors in its most recent earnings report. Corebridge Financial, Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Corebridge Financial, Inc. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $22.57B | 10.11 | 19.48% | 4.88% | 4.23% | 5.77% | |
76 Outperform | $41.37B | 11.53 | 11.09% | 2.43% | 1.43% | 10.86% | |
73 Outperform | $41.85B | 11.33 | 61.59% | 1.26% | 6.43% | 36.14% | |
72 Outperform | $16.13B | 8.82 | 6.69% | 5.33% | 3.11% | 89.49% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $12.47B | -53.29 | 1.97% | 3.14% | 15.55% | -52.60% | |
58 Neutral | $18.29B | -32.87 | 14.18% | 2.30% | -26.37% | -49.86% |
* Financial Sector Average
CRBG
Corebridge Financial, Inc.
26.09
-5.63
-17.76%
AMP
Ameriprise Financial
470.12
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-8.33%
BEN
Franklin Resources
31.68
11.27
55.21%
STT
State Street
150.45
55.33
58.18%
TROW
T Rowe Price
102.84
10.63
11.53%
CG
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50.04
5.25
11.73%
Corebridge Financial, Inc. Corporate Events
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Corebridge and Equitable Reveal Leadership Team for Merger
Positive
May 12, 2026
On March 26, 2026, Corebridge Financial and Equitable Holdings agreed to combine in an all-stock merger to create a leading retirement, life, wealth and asset management company with more than 12 million customers and $1.5 trillion in assets under...
Business Operations and StrategyExecutive/Board Changes
Corebridge Adds Nippon Life Designee Inoue to Board
Positive
Apr 17, 2026
On April 14, 2026, Corebridge Financial’s board elected Hirotaka Inoue as a director effective April 21, 2026, as a Nippon Life Insurance Company designee replacing departing director Minoru Kimura on April 20, 2026. The board also confirmed...
Stock BuybackM&A Transactions
Corebridge Weighs Share Buybacks Amid Pending Equitable Merger
Neutral
Apr 16, 2026
Corebridge Financial, Inc., in consultation with Equitable Holdings, Inc., is considering repurchasing shares of its common stock ahead of the closing of their pending merger announced on March 26, 2026. Any buybacks during the proxy filing period...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Corebridge Appoints Interim CFO Amid Leadership Transition
Neutral
Apr 15, 2026
On April 15, 2026, Corebridge Financial, Inc. announced that Chief Accounting Officer Christopher Filiaggi will become Interim Chief Financial Officer effective April 24, 2026, succeeding outgoing CFO Elias Habayeb, who will depart the same day. F...
Business Operations and StrategyM&A Transactions
Corebridge and Equitable Announce Transformational All-Stock Merger
Positive
Mar 26, 2026
On March 26, 2026, Corebridge Financial and Equitable Holdings announced a definitive all-stock merger agreement that will create a $22 billion combined company focused on retirement, life, wealth and asset management, serving more than 12 million...
Business Operations and StrategyExecutive/Board ChangesStock Buyback
Corebridge Advances Governance Independence as AIG Influence Fades
Positive
Mar 24, 2026
Corebridge Financial, Inc. reported that on March 23, 2026, directors Rose Marie Glazer and Adam Burk resigned from its Board, with the company stating their departures were not due to any disagreement over operations, policies, or practices. The ...
Executive/Board Changes
Corebridge Announces Upcoming Nippon-Designated Board Member Change
Neutral
Mar 16, 2026
Corebridge Financial, Inc. disclosed that Nippon Life Insurance Company will change one of its designated directors, with Minoru Kimura departing the Corebridge Board of Directors effective April 20, 2026, due to Nippon’s normal personnel ro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.