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Corebridge Financial Inc. (CRBG), with a market capitalization of $18.3 billion, has reached an all-time high, with its stock price climbing to 35.4 USD. According to InvestingPro data, analysts have set price targets ranging from $28 to $43. This milestone underscores a 17.2% increase over the past year, reflecting strong investor confidence and robust financial performance. The company offers a notable 2.9% dividend yield, and management has been actively buying back shares, as highlighted in InvestingPro’s analysis. The company’s stock has shown resilience and growth, contributing to its notable position in the financial sector. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its Fair Value. As Corebridge continues to navigate market dynamics with a strong financial health score, this achievement marks a significant point in its stock market journey. Discover more insights and 12+ additional ProTips with InvestingPro’s comprehensive research report.
In other recent news, Corebridge Financial Inc. announced a significant transaction with CS Life Re, a subsidiary of Venerable Holdings, to reinsure its variable annuities business valued at $51 billion. This deal is expected to generate approximately $2.1 billion in net distributable proceeds after tax for Corebridge, which plans to use the majority for share repurchases. The company has also authorized a $2 billion increase to its share repurchase program. Additionally, Corebridge Financial reported its first-quarter earnings for 2025, with an earnings per share (EPS) of $1.16, slightly below the forecasted $1.18, and revenue of $4.74 billion, which fell short of the projected $5.44 billion. Despite these misses, Evercore ISI has raised Corebridge Financial’s price target to $37, maintaining an Outperform rating, reflecting confidence in the company’s strategic direction. In other developments, Corebridge held its 2025 Annual Meeting of Stockholders, where thirteen directors were elected, executive compensation was approved, and PricewaterhouseCoopers LLP was ratified as the accounting firm. Furthermore, Rose Marie Glazer resigned from two board committees but will continue her candidacy for re-election as a director.
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