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Corebridge Financial, Inc. (CRBG)
:CRBG
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Corebridge Financial, Inc. (CRBG) AI Stock Analysis

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CRBG

Corebridge Financial, Inc.

(NYSE:CRBG)

Rating:72Outperform
Price Target:
$38.00
▲(10.79% Upside)
Corebridge Financial's overall stock score is driven by strong technical momentum and strategic corporate events, despite challenges in financial performance and valuation concerns. The earnings call provides a positive outlook with growth initiatives, offset by operational cost issues.
Positive Factors
Earnings Performance
Individual Retirement reported pre-tax earnings of $623 million, above expectations, driven by strong variable investment income.
Risk Profile
The announced variable annuity risk transfer bolsters free cash flow stability, which was already viewed as underappreciated.
Share Buyback
Corebridge plans to use most of the $2.1 billion for share repurchases, supported by a $2 billion share repurchase authorization increase.
Negative Factors
Cash Flow Impact
The deal negatively impacts free cash flow in the short term.
Interest Expenses
Corporate reported pre-tax earnings of a $169 million loss, driven by higher interest expenses on increased refinance rates.

Corebridge Financial, Inc. (CRBG) vs. SPDR S&P 500 ETF (SPY)

Corebridge Financial, Inc. Business Overview & Revenue Model

Company DescriptionCorebridge 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 segment provides fixed annuities, fixed index annuities, variable annuities and retail mutual funds. The Group Retirement segment offers record-keeping services, plan administration and compliance services, and financial planning and advisory solutions to employer-defined contribution plans and their participants, as well as proprietary and non-proprietary annuities, advisory services, and brokerage products. The Life Insurance segment offers term life and universal life insurance in the United States, as well as issues individual life, whole life, and group life insurance in the United Kingdom; and distributes medical insurance in Ireland. The Institutional Markets segment provides stable value wraps, structured settlement and pension risk transfer annuities, corporate and bank owned life insurance, high net worth products, and guaranteed investment contracts. The company was formerly known as SAFG Retirement Services, Inc. Corebridge Financial, Inc. was incorporated in 1998 and is headquartered in Houston, Texas. Corebridge Financial, Inc. operates as a subsidiary of American International Group, Inc.
How the Company Makes MoneyCorebridge Financial, Inc. generates revenue primarily through premiums collected from life insurance policies and annuity products. These insurance products provide the company with a steady stream of income as policyholders pay regular premiums for coverage. Additionally, Corebridge earns income from its investment management services by charging fees based on assets under management. The company invests the premiums collected in a diversified portfolio of financial instruments to generate returns, which contribute to its overall earnings. Strategic partnerships with financial advisors and institutions also play a crucial role in expanding its distribution network and enhancing revenue generation.

Corebridge Financial, Inc. Earnings Call Summary

Earnings Call Date:Aug 04, 2025
(Q2-2025)
|
% Change Since: -1.41%|
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call presented a strong financial performance with significant achievements, particularly the transformative reinsurance transaction and record sales in Individual Retirement. However, challenges were noted in base spread income and Group Retirement transitions. Overall, the highlights of growth and strategic initiatives significantly outweigh the lowlights.
Q2-2025 Updates
Positive Updates
Transformative Reinsurance Transaction
Corebridge closed a major reinsurance transaction, exiting its Individual Retirement variable annuity financial risk. This resulted in $2.1 billion of net distributable proceeds, primarily allocated for share repurchases, expected to be EPS accretive.
Strong Financial Growth
Corebridge reported a second quarter adjusted pretax operating income of $942 million, with operating earnings per share increasing by 20% year-over-year.
Record Sales in Individual Retirement
Individual Retirement sales exceeded last year's record second quarter, with cumulative sales of the new RILA product surpassing $1 billion within nine months of launch.
Expense Efficiency Achievements
Corebridge Forward initiatives led to a 14% reduction in general operating expenses since the IPO, with ongoing efforts to further improve operating leverage.
Life Insurance Performance
Life Insurance underwriting margin grew by 12% year-over-year, with a 44% increase in adjusted pretax operating income, driven by favorable mortality experience and improved investment yields.
Negative Updates
Base Spread Income Decline
Base spread income declined 6% year-over-year, partially due to Fed rate actions and hedging activities. Core sources of income in Individual Retirement were down 3% year-over-year.
Group Retirement Challenges
Group Retirement is transitioning from a spread-based to a fee-based revenue stream. Base spread income decreased 18% year-over-year amid ongoing demographic shifts and net outflows.
Large Plan Exits Impact
Two large plan exits are expected in the third quarter, which will have a modest impact on spread earnings, reflecting the ongoing transition and challenges in the Group Retirement segment.
Company Guidance
In the second quarter of 2025 earnings call, Corebridge Financial provided guidance highlighting several key metrics and strategic initiatives. The company reported adjusted pretax operating income of $942 million, resulting in operating earnings per share of $1.36, marking a 20% increase year-over-year. The transformative variable annuity reinsurance transaction was emphasized as a pivotal move, generating $2.1 billion of net distributable proceeds, with a substantial portion earmarked for share repurchases. This transaction is expected to enhance shareholder value by reducing risk and improving earnings quality. Corebridge also aims to grow earnings per share by an average of 10% to 15% annually, leveraging strong annuity sales, which surpassed $1 billion for their new RILA product within nine months of launch. The company remains committed to executing on its strategic pillars, including organic growth, balance sheet optimization, expense efficiency, and capital management, with a focus on delivering a 60% to 65% payout ratio.

Corebridge Financial, Inc. Financial Statement Overview

Summary
Corebridge Financial shows a mixed financial performance. While there are improvements in operational efficiency, revenue and free cash flow growth are declining. The balance sheet is stable but has vulnerabilities due to low equity levels.
Income Statement
65
Positive
Corebridge Financial demonstrates a mixed income statement performance. The TTM (Trailing-Twelve-Months) revenue growth is negative, following a previous year's decline. The gross profit margin is negative, indicating cost challenges. However, the net profit margin is positive, and the company has improved its EBIT and EBITDA margins compared to the previous year, suggesting some operational efficiency improvements.
Balance Sheet
70
Positive
The balance sheet shows Corebridge Financial has a reasonable debt-to-equity ratio, indicating moderate leverage. The equity ratio is low, highlighting potential risks in financial stability. The ROE is positive and growing, reflecting good profitability relative to shareholder equity. Overall, the balance sheet reflects a stable but cautious picture of the company's financial health.
Cash Flow
60
Neutral
Cash flow analysis reveals that Corebridge Financial's free cash flow is positive, but the growth rate is negative. The operating cash flow to net income ratio is healthy, suggesting good cash generation relative to net income. However, the decline in free cash flow growth could be a concern for future liquidity.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue7.74B2.68B18.62B26.68B23.39B15.06B
Gross Profit4.57B2.12B18.32B25.80B9.73B3.47B
EBITDA1.08B3.55B1.47B11.06B10.50B1.15B
Net Income-337.00M2.23B1.10B8.16B8.24B866.00M
Balance Sheet
Total Assets399.16B389.40B379.27B360.32B416.21B410.15B
Cash, Cash Equivalents and Short-Term Investments4.10B63.92B171.47B161.75B204.58B207.83B
Total Debt9.46B12.39B11.87B15.33B15.68B11.25B
Total Liabilities385.99B377.07B366.63B350.00B387.28B370.32B
Stockholders Equity12.30B11.46B11.77B9.38B27.09B37.23B
Cash Flow
Free Cash Flow1.68B2.15B3.36B2.69B1.18B3.01B
Operating Cash Flow1.68B2.15B3.36B2.69B2.46B3.33B
Investing Cash Flow-14.12B-11.54B-5.48B-7.25B-1.97B-7.91B
Financing Cash Flow12.08B9.58B2.11B4.60B-809.00M4.67B

Corebridge Financial, Inc. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price34.30
Price Trends
50DMA
33.95
Positive
100DMA
32.07
Positive
200DMA
31.61
Positive
Market Momentum
MACD
0.25
Positive
RSI
46.61
Neutral
STOCH
29.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRBG, the sentiment is Positive. The current price of 34.3 is below the 20-day moving average (MA) of 34.98, above the 50-day MA of 33.95, and above the 200-day MA of 31.61, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 46.61 is Neutral, neither overbought nor oversold. The STOCH value of 29.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CRBG.

Corebridge Financial, Inc. Risk Analysis

Corebridge Financial, Inc. disclosed 50 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

Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$61.39B104.7012.97%2.24%46.84%-7.13%
75
Outperform
$48.09B15.7158.24%1.23%7.09%9.89%
74
Outperform
$127.06B68.269.03%0.50%-23.81%-48.96%
72
Outperform
$18.85B27.46-2.89%2.73%-24.27%-67.03%
70
Outperform
$21.70B20.3021.39%2.33%81.86%
66
Neutral
$204.69B45.2637.72%2.54%27.13%41.35%
58
Neutral
HK$95.83B4.96-4.09%4.96%2.98%-39.97%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CRBG
Corebridge Financial, Inc.
34.30
9.19
36.60%
AMP
Ameriprise Financial
505.03
109.35
27.64%
KKR
KKR & Co
142.66
30.51
27.20%
BX
Blackstone Group
167.68
40.48
31.82%
CG
Carlyle Group
60.10
22.01
57.78%
ARES
Ares Management
187.98
52.58
38.83%

Corebridge Financial, Inc. Corporate Events

Shareholder MeetingsBusiness Operations and Strategy
Corebridge Financial Approves Key Governance Amendments
Neutral
Jul 9, 2025

On July 9, 2025, Corebridge Financial, Inc. held a special meeting of stockholders where two key amendments to the company’s certificate of incorporation were approved. These amendments authorize the Board of Directors to make changes to the by-laws and establish provisions for stockholder action by written consent, requiring a minimum of 25% voting power to initiate such actions. The amendments aim to enhance governance flexibility and were made effective immediately upon filing with the Secretary of State of Delaware.

The most recent analyst rating on (CRBG) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.

M&A TransactionsStock BuybackBusiness Operations and Strategy
Corebridge Financial Announces Major Reinsurance Transaction
Positive
Jun 26, 2025

On June 25, 2025, Corebridge Financial, Inc. announced a significant transaction with Venerable Holdings, Inc., where it will reinsure its entire Individual Retirement variable annuity portfolio, valued at $51 billion, through agreements with Corporate Solutions Life Reinsurance Company. This $2.8 billion transaction is expected to generate $2.1 billion in net distributable proceeds for Corebridge, which plans to use the majority for share repurchases. The transaction marks Corebridge’s exit from Individual Retirement variable annuities, aiming to reduce risk and accelerate its capital management strategy. The deal is anticipated to close in the third and fourth quarters of 2025, subject to regulatory approvals and customary conditions.

The most recent analyst rating on (CRBG) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Corebridge Financial Elects Directors at Annual Meeting
Neutral
Jun 4, 2025

Corebridge Financial, Inc. held its 2025 Annual Meeting of Stockholders on June 3, 2025, via live webcast. During the meeting, thirteen directors were elected for a one-year term, the 2024 compensation of the Company’s named executive officers was approved on an advisory basis, and the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025 was ratified.

The most recent analyst rating on (CRBG) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.

Executive/Board Changes
Corebridge Financial Director Resigns from Key Committees
Neutral
May 14, 2025

On May 14, 2025, Rose Marie Glazer resigned from her roles in the Compensation and Management Development Committee and the Nominating and Corporate Governance Committee of Corebridge Financial, Inc., effective immediately. Her resignation ensures that these committees are now entirely composed of independent directors under NYSE standards, while she continues to serve on the Risk Committee and stands for re-election as a director.

The most recent analyst rating on (CRBG) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Corebridge Financial, Inc. stock, see the CRBG Stock Forecast page.

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.Date of analysis: Jul 10, 2025