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Corebridge Financial, Inc.
(NYSE:CRBG)
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Rating:65Neutral
Price Target:
$37.00
▲(13.74% Upside)
Action:Reiterated
Date:09/18/26
The score is driven primarily by improving but still volatile fundamentals (rebound profitability and solid free cash flow, but inconsistent multi-year earnings/cash-flow stability). Technicals add support due to a clear uptrend and positive momentum. Valuation appears roughly fair, while earnings-call takeaways are constructive on core earnings, capital return, and merger progress, tempered by ongoing Variable Investment Income headwinds and some segment pressure.
Positive Factors
Fee and core income growth
Broad fee growth, especially in retirement businesses, supports a more recurring earnings base than investment-driven income alone. Continued expansion in fee income and core sources of earnings can improve revenue quality, fund reinvestment, and strengthen profitability over the next several quarters.
Negative Factors
Variable investment income drag
Persistent underperformance in Variable Investment Income creates a direct earnings headwind and reduces the predictability of reported results. Private equity marks and market volatility can continue to pressure returns, making near-term profitability more dependent on the steadier performance of core fee and spread businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
Fee and core income growth
Broad fee growth, especially in retirement businesses, supports a more recurring earnings base than investment-driven income alone. Continued expansion in fee income and core sources of earnings can improve revenue quality, fund reinvestment, and strengthen profitability over the next several quarters.
Read all positive factors
Corebridge Financial, Inc. Key Performance Indicators (KPIs)
Any
Adjusted Operating Income by Segment
Shows the profit each business unit produces after removing one-time items and accounting adjustments, highlighting which lines (annuities, life insurance, retirement services) are truly generating sustainable earnings. For Corebridge, it signals efficiency in turning premiums and investment income into distributable profits, and reveals sensitivity to interest-rate spreads, mortality/morbidity trends, expense control, and capital consumption across segments.
Shows the profit each business unit produces after removing one-time items and accounting adjustments, highlighting which lines (annuities, life insurance, retirement services) are truly generating sustainable earnings. For Corebridge, it signals efficiency in turning premiums and investment income into distributable profits, and reveals sensitivity to interest-rate spreads, mortality/morbidity trends, expense control, and capital consumption across segments.
Data provided by:
The Fly
The FlyCorebridge Financial, Inc. (CRBG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.74B
Dividend Yield2.8%
Average Volume (3M)5.14M
Price to Earnings (P/E)20.7
Beta (1Y)1.29
Revenue Growth25.42%
EPS GrowthN/A
CountryUS
Employees4,800
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)1.71
Shares Outstanding445,772,520
10 Day Avg. Volume5,307,630
30 Day Avg. Volume5,143,036
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)1.23
Price to Sales (P/S)5.63
P/FCF Ratio8.05
Enterprise Value/Market Cap1.59
Enterprise Value/Revenue2.67
Enterprise Value/Gross Profit3.08
Enterprise Value/Ebitda10.82
Forecast
1Y Price Target
$40.67Price Target Upside25.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.57
Revenue Forecast (FY)$19.13B
Corebridge Financial, Inc. Business Overview & Revenue Model
Company Description
Corebridge Financial, Inc. is a prominent financial services company primarily operating within the United States, dedicated to offering a broad spectrum of retirement and insurance solutions. Its business operations are strategically organized ac...
How the Company Makes Money
Corebridge primarily makes money by collecting premiums and fees on insurance and retirement products and earning investment income on the assets it manages to support future policy and annuity obligations. Key revenue and earnings drivers include...
Corebridge Financial, Inc. Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call presents a largely positive operational and strategic picture: core businesses delivered resilient results with fee and core income growth, meaningful capital returns, strong liquidity and progress toward a transformative merger with clear synergy targets and attractive medium-term financial goals. The principal near-term headwind is underperformance in Variable Investment Income driven by private equity and alternative marks, which management expects to persist through the year and will pressure reported earnings. Sales and APTOI showed pockets of weakness in certain segments, and spreads are expected to compress modestly through year-end. On balance, strong fundamentals, disciplined capital allocation, integration momentum and multiple growth levers outweigh the VII-driven earnings drag and timing risks in PRT.Positive Updates
Merger Approval and Integration Progress
Shareholders approved the merger with Equitable; Federal Antitrust review and FINRA broker-dealer approval complete, all state/international filings submitted. First three levels of combined leadership determined and Joint Integration and Transformation Office active. Management expects close by year-end and targets $500 million of cost synergies plus additional revenue synergies.
Negative Updates
Variable Investment Income (VII) Underperformance
VII underperformed materially in the quarter, driven by marks in Alternative Investments (notably private equity exposure and software sector declines) and market volatility tied to geopolitical events. Management expects VII returns to remain below target for the remainder of the year, creating an earnings drag.
Read all updates
Q2-2026 Updates
Positive
Negative
Merger Approval and Integration Progress
Shareholders approved the merger with Equitable; Federal Antitrust review and FINRA broker-dealer approval complete, all state/international filings submitted. First three levels of combined leadership determined and Joint Integration and Transformation Office active. Management expects close by year-end and targets $500 million of cost synergies plus additional revenue synergies.
Read all positive updates
Company Guidance
Corebridge reaffirmed its full‑year guidance while flagging that Variable Investment Income (VII) will likely remain below target for the rest of 2026; it reiterated base spread income of about $2.55 billion and expects steady sales and positive net flows for the remainder of the year. In Q2 the company reported adjusted pretax operating income of $664 million, GAAP EPS $1.12 and run‑rate operating EPS of $1.35 (up 16% YoY); core sources of income ex‑VII were +5% YoY, spread income +4% YoY and fee income +15% YoY (Individual Retirement fee income +17%). Other 2Q metrics included Individual Retirement sales $3.8 billion, Life sales $870 million (run‑rate APTOI $122 million), Institutional markets sales $2.6 billion including $1.8 billion of GICs (Institutional APTOI +36% YoY), Group Retirement wealth $20 billion (+18% YoY), and a GIC book of ~5% of the general account. Capital and liquidity highlights: cash generation has exceeded $400 million for 14 consecutive quarters, holding‑company liquidity >$1.4 billion (including $475 million of insurer dividends this quarter), $412 million returned to shareholders in Q2 (including $300 million of buybacks), a YTD normalized payout ratio of 84% and an expected ~$350 million of repurchases in H2. Management also reiterated longer‑term combined targets for the merger: by 2027 roughly $5 billion of earnings, $4 billion of cash generation, >15% ROE and $500 million of cost synergies.Corebridge Financial, Inc. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
58
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.40B | 2.89B | 2.68B | 2.36B | 1.88B | 22.10B |
| Gross Profit | 8.15B | 2.34B | 2.12B | 1.78B | 1.34B | 14.05B |
| EBITDA | 2.32B | 567.00M | 3.55B | 1.89B | 11.61B | 10.93B |
| Net Income | 907.00M | -366.00M | 2.23B | 1.10B | 8.16B | 7.36B |
Balance Sheet | ||||||
| Total Assets | 415.79B | 413.55B | 389.40B | 379.27B | 360.32B | 416.21B |
| Cash, Cash Equivalents and Short-Term Investments | 4.94B | 66.54B | 63.92B | 171.47B | 161.75B | 204.58B |
| Total Debt | 10.87B | 10.91B | 12.39B | 11.87B | 15.33B | 15.68B |
| Total Liabilities | 404.42B | 399.59B | 377.07B | 366.63B | 350.00B | 387.28B |
| Stockholders Equity | 10.65B | 13.20B | 11.46B | 11.77B | 9.38B | 27.09B |
Cash Flow | ||||||
| Free Cash Flow | 1.85B | 2.02B | 2.15B | 3.36B | 2.62B | 2.40B |
| Operating Cash Flow | 1.85B | 2.02B | 2.15B | 3.36B | 2.62B | 2.40B |
| Investing Cash Flow | -7.75B | -13.33B | -11.54B | -5.38B | -7.25B | -1.97B |
| Financing Cash Flow | 5.96B | 10.94B | 9.58B | 2.02B | 4.67B | -753.00M |
Corebridge Financial, Inc. Technical Analysis
Positive
32.53
Price Trends
33.92
Positive
32.24
Positive
29.41
Positive
Market Momentum
0.32
Negative
57.26
Neutral
82.91
Negative
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 32.53 is below the 20-day moving average (MA) of 34.61, below the 50-day MA of 33.92, and above the 200-day MA of 29.41, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 57.26 is Neutral, neither overbought nor oversold. The STOCH value of 82.91 is Negative, 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 45 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $43.27B | 11.66 | 61.73% | 1.35% | 8.79% | 28.59% | |
75 Outperform | $22.18B | 10.42 | 20.45% | 4.97% | 6.97% | 11.41% | |
73 Outperform | $23.95B | 12.43 | 16.55% | 2.91% | -23.21% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $15.74B | 20.65 | 7.53% | 2.80% | 25.42% | ― | |
60 Neutral | $12.66B | -41.57 | -0.63% | 2.96% | 16.65% | -147.19% | |
58 Neutral | $14.90B | -16.69 | 845.66% | 2.09% | -17.70% | -356.46% |
* Financial Sector Average
CRBG
Corebridge Financial, Inc.
35.32
4.63
15.08%
AMP
Ameriprise Financial
489.80
41.64
9.29%
IVZ
Invesco
28.68
5.92
26.03%
PFG
Principal Financial
111.84
31.86
39.83%
TROW
T Rowe Price
104.00
6.97
7.19%
EQH
Equitable Holdings
54.59
7.52
15.99%
Corebridge Financial, Inc. Corporate Events
Executive/Board ChangesShareholder Meetings
Corebridge Financial Holds 2026 Annual Stockholder Meeting
Positive
Sep 17, 2026
Corebridge Financial, Inc. held its 2026 Annual Meeting of Stockholders on September 16, 2026 via live webcast to address key governance and oversight matters. Shareholders of record as of July 28, 2026, representing more than 445 million outstand...
Business Operations and StrategyPrivate Placements and Financing
Corebridge Refinances Debt with New Senior Notes Issuance
Positive
Aug 20, 2026
On August 20, 2026, Corebridge Financial, Inc. issued and sold $750 million of 5.900% Senior Notes due 2036, raising funds in the debt capital markets to support its balance sheet. The company plans to use the net proceeds, together with cash on h...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Corebridge Stockholders Approve Merger With Equitable Holdings
Positive
Jul 30, 2026
On July 30, 2026, Corebridge Financial stockholders approved a merger agreement with Equitable Holdings at a special meeting, along with an advisory vote backing potential executive compensation tied to the deal and the adoption of a new 2026 empl...
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Corebridge faces shareholder challenges to Equitable merger disclosures
Negative
Jul 21, 2026
On March 26, 2026, Corebridge Financial and Equitable Holdings agreed to merge through a two-step transaction that will create a new parent company, New Equitable, with each firm becoming a wholly owned subsidiary and Corebridge shareholders expec...
Regulatory Filings and ComplianceShareholder Meetings
Corebridge Sets 2026 Annual Meeting and Key Deadlines
Neutral
Jul 1, 2026
On June 28, 2026, Corebridge Financial’s board special committee set September 16, 2026, as the date for the company’s 2026 annual meeting of stockholders and designated July 28, 2026, as the record date for voting eligibility. The mee...
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.