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Corebridge Financial, Inc. (NYSE:CRBG), an $18.11 billion market cap financial services company currently trading at $32.95, conducted its 2025 Annual Meeting of Stockholders on Tuesday via live webcast. According to InvestingPro data, the company maintains a FAIR financial health score and offers a 2.91% dividend yield. The meeting involved three primary agenda items: the election of directors, an advisory vote on executive compensation, and the ratification of its accounting firm.
The stockholders elected thirteen directors to serve a one-year term until the 2026 Annual Meeting. Notable election results included Christina Banthin receiving 461,808,903 votes in favor and 4,012,624 against, with 65,562 abstentions. Other directors, such as Edward Bousa and Adam Burk, also secured their positions with significant support.
The meeting also addressed executive compensation, with stockholders approving the 2024 compensation of the company’s named executive officers. The proposal received 457,874,479 votes for, 7,947,607 against, and 65,003 abstentions.
Additionally, the stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025. This proposal passed with 473,653,604 votes in favor, 424,559 against, and 49,608 abstentions.
The information provided in this article is based on a press release statement from Corebridge Financial’s recent SEC Form 8-K filing.
In other recent news, Corebridge Financial reported its earnings for the first quarter of 2025, revealing an earnings per share (EPS) of $1.16, slightly below the forecasted $1.18. The company’s revenue also fell short of expectations, coming in at $4.74 billion against a projected $5.44 billion. Despite these misses, Evercore ISI analyst Thomas Gallagher updated Corebridge Financial’s price target, raising it to $37 from the previous $36, while retaining an Outperform rating. Gallagher adjusted the company’s financial estimates following Corebridge’s recent earnings report, noting changes in anticipated investment returns and other factors.
Additionally, Corebridge Financial announced changes to its board committees, with Rose Marie Glazer resigning from her roles on two board committees while maintaining her position on the Risk Committee. This update was disclosed in a recent SEC filing. Despite the earnings shortfall, Corebridge’s market position in individual retirement products remains strong, and the company continues to focus on strategic initiatives and product innovations that are driving investor confidence.
Looking forward, Corebridge expects annual EPS growth of 10-15% in the long term, despite anticipating alternative investment returns to be below long-term expectations. The company is also targeting a 12-14% annual return on equity. Corebridge’s strategic focus includes optimizing its balance sheet, driving operating efficiency, and exploring opportunities for capital efficiency, including its Bermuda strategy.
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