CRBG Stock Recent News
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Corebridge's (CRBG) fourth-quarter results are likely to reflect increasing Group Retirement fee income.
In the closing of the recent trading day, Corebridge Financial (CRBG) stood at $23.49, denoting a -0.76% change from the preceding trading day.
Corebridge Financial (CRBG) reachead $24.63 at the closing of the latest trading day, reflecting a +0.78% change compared to its last close.
In the latest trading session, Corebridge Financial (CRBG) closed at $24.56, marking a +0.37% move from the previous day.
In the closing of the recent trading day, Corebridge Financial (CRBG) stood at $24.17, denoting a +0.79% change from the preceding trading day.
Corebridge Financial shares have steadily recovered after a sharp decline during market turmoil in March and April. The company's shift from variable annuities to fixed and fixed-index annuities is boosting sales and making earnings more consistent. CRBG has a diverse investment portfolio and a solid capital position, with the potential for future special dividends and share repurchases.
Corebridge's (CRBG) third-quarter results were hurt by high-interest expenses and a decline in variable annuity deposits. Management aims to achieve a return on average equity within 12-14% in 2024.
Corebridge Financial (CRBG) came out with quarterly earnings of $1.05 per share, missing the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $0.57 per share a year ago.
Corebridge is recommended as a Buy due to its competitive advantages, catalysts for growth, operational efficiency, financial prudency, and undervaluation compared to peers. The company is well-positioned in the growing group retirement sector, which is expected to benefit from the increasing share of over-60s in the US population. Corebridge's strategic partnership with Blackstone provides access to profitable investments and expertise, enhancing its competitive position and potential for future growth.
In the most recent trading session, Corebridge Financial (CRBG) closed at $20.62, indicating a +0.29% shift from the previous trading day.