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Corebridge Financial, Inc. (NYSE:CRBG), a leading life insurance company with a market capitalization of $18.14 billion and currently trading near its 52-week high, disclosed today that Rose Marie Glazer has resigned from her roles on two board committees. According to InvestingPro data, the company maintains a Fair Value rating indicating slight overvaluation at current levels. As stated in the company’s recent SEC filing, Glazer stepped down from the Compensation and Management Development Committee and the Nominating and Corporate Governance Committee effective immediately on Wednesday, May 14, 2025.
Despite her resignation from these committees, Glazer will continue her candidacy for re-election as a director at the upcoming 2025 annual meeting of stockholders. She will also maintain her position on the Risk Committee of the Board. Following her departure, the remaining members of the Compensation Committee and Governance Committee are all independent under the New York Stock Exchange listing standards. The company has demonstrated strong financial performance, with InvestingPro analysis showing a healthy 2.96% dividend yield and robust profitability metrics.
This update comes directly from an 8-K filing with the Securities and Exchange Commission by Corebridge Financial, which was formerly known as SAFG Retirement Services, Inc. before a name change on October 20, 2021. The company is headquartered in Houston, Texas, and operates under the industrial classification of Life Insurance (NSE:LIFI).
Corebridge Financial has not provided any further details regarding the reason for Ms. Glazer’s resignation from these specific committees or any potential replacements. The company’s stock, traded under the ticker CRBG, continues to be listed on the New York Stock Exchange.
In other recent news, Corebridge Financial reported its earnings for the first quarter of 2025, showing an earnings per share (EPS) of $1.16, which was slightly below the forecasted $1.18. The company’s revenue also missed expectations, coming in at $4.74 billion against a projected $5.44 billion. Despite these shortfalls, Corebridge’s stock rose, indicating investor optimism possibly driven by new product launches and strategic initiatives. Evercore ISI analyst Thomas Gallagher updated Corebridge Financial’s price target, increasing it to $37 from $36, while maintaining an Outperform rating. Gallagher noted adjustments in financial estimates, including a decrease in the second-quarter 2025 earnings estimates due to anticipated lower alternative investment returns. However, estimates for the third quarter of 2025 and beyond have been modestly increased by 1-2% based on factors such as interest rate spreads and expected Federal Reserve rate cuts. Corebridge anticipates mid-single-digit EPS growth in 2025, with long-term annual EPS growth expectations of 10-15%. The company remains focused on innovation and market expansion, maintaining a strong market position in individual retirement products.
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