- The adjusted revenue of Corebridge Financial for 1Q was $5.85 billion, beating the estimated $5.42 billion.
- Premiums earned in the same quarter amounted to $2.30 billion, surpassing the $1.86 billion estimate.
- The adjusted net income for 1Q was $688 million, which was higher than the estimated $649.6 million.
- Corebridge Financial reduced their general operating expenses by 10% year over year, through overall expense discipline and the implementation of their modernization program, Corebridge Forward.
- The Board of Directors of Corebridge Financial approved an increase of $2 billion to their existing share repurchase program. This reflects their ongoing confidence in the financial position and strategic direction of the company.
- There are 10 buys, 4 holds, and 0 sells for the company’s stock.
A look at Corebridge Financial Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Corebridge Financial, Inc. has garnered positive reviews on several key factors according to Smartkarma Smart Scores. With strong scores in Value and Dividend of 4 out of 5, investors can expect solid returns and consistent payouts. However, the company’s Growth and Resilience scores of 2 suggest a slower growth trajectory and lower ability to withstand economic shocks. On a brighter note, Corebridge Financial shines in Momentum with a perfect score of 5, indicating strong performance trends in the market.
Corebridge Financial, Inc. operates as a global provider of retirement solutions and insurance products. Despite facing challenges in growth and resilience, the company’s impressive momentum score showcases its current market strength. Investors may find Corebridge Financial a promising option for stable returns and steady dividends, supported by its robust value proposition in the financial landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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