Corebridge Financial ($CRBG) Stock Forecast: Down 4.4% Today

What is Corebridge Financial?

Corebridge Financial (NYSE: CRBG) recently released its second-quarter results for 2024, showcasing a mixed financial performance.

Why is Corebridge Financial going down?

CRBG stock is down 4.4% on Aug 1, 2024 15:08

• Corebridge Financial surpassed EPS predictions but fell short of revenue forecasts for Q2 2024, prompting a downward trend in its stock value.
• The company's revenue being 27.50% lower than anticipated by analysts likely fueled investor apprehensions and the subsequent stock price drop.
• Despite achieving 9% growth in EPS and achieving record premiums, the revenue shortfall may have outweighed the positive aspects of the quarterly outcomes, impacting market sentiment negatively.
• The formal separation of Corebridge Financial from American International Group Inc. and associated accounting charges possibly contributed to weakened investor trust in the stock, exacerbating the downward trend.

CRBG Price Chart

CRBG Technical Analysis

CRBG News

CRBG Stock Earnings: Corebridge Financial Beats EPS, Misses Revenue for Q2 2024

Corebridge Financial (NYSE: CRBG ) just reported results for the second quarter of 2024. Corebridge Financial reported earnings per share of $1.13. This was above the analyst estimate for EPS of $1.09. The company reported revenue of $4.18 billion. This was 27.50% worse than the analyst estimate for revenue of $5.76 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post CRBG Stock Earnings: Corebridge Financial Beats EPS, Misses Revenue for Q2 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/07/crbg-stock-earnings-corebridge-financial-for-q2-of-2024/

Corebridge Financial Announces Second Quarter 2024 Results | CRBG Stock News

Corebridge Financial reports robust Q2 2024 results: 9% EPS growth, record $11.7B premiums. Strong performance across key metrics showcases resilience in challenging market.

https://www.stocktitan.net/news/CRBG/corebridge-financial-announces-second-quarter-2024-foofw48blgb1.html

Corebridge Financial Announces Second Quarter 2024 Results

Corebridge Financial, Inc. ("Corebridge" or the "Company") (NYSE: CRBG) today reported financial results for the second quarter ended June 30, 2024. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, "This was another excellent quarter for Corebridge where our diversified business model, strong balance sheet and disciplined execution drove positive results. We continue to Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18330871-corebridge-financial-announces-second-quarter-2024-results

AIG Reports Second-Quarter Loss Due to Corebridge Separation

American International Group Inc. booked a loss in the second quarter due to accounting charges tied to the formal separation of life and retirement business Corebridge Financial Inc.

https://www.bnnbloomberg.ca/investing/2024/07/31/aig-reports-second-quarter-loss-due-to-corebridge-separation/

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Corebridge Financial Price History

16.04.2024 - CRBG Stock was up 10.0%

• CRBG stock had a strong bullish movement today.
• AIG sold a 20% stake in CRBG to Nippon Life for $3.8 billion, indicating a strategic partnership and potential value addition.
• This significant investment from Nippon Life could have boosted investor confidence in CRBG, leading to the bullish market movement.
• The deal showcases a positive outlook for CRBG's future growth and expansion, attracting more investors to the stock.

01.11.2023 - CRBG Stock was down 3.0%

• AIG announced a secondary offering of up to 40.25 million existing shares of Corebridge Financial common stock, indicating a potential increase in supply.
• AIG's decision to sell off another 35 million shares of Corebridge Financial stock, less than a month after a previous sale, may have contributed to the bearish movement.
• The selling of shares by AIG could have created selling pressure and led to a decline in the stock price.
• The overall market sentiment towards Corebridge Financial may have been affected by the news of the secondary offering, leading to a bearish movement in the stock.

02.10.2023 - CRBG Stock was up 5.4%

• The bullish movement in CRBG's stock today can be attributed to the following factors:
• 1. Special Dividend Declaration: The announcement of a special dividend of $1.16 per share by Corebridge Financial's Board of Directors indicates the company's strong financial performance and commitment to returning value to its shareholders. This positive news likely attracted investors and contributed to the bullish movement.
• 2. Successful Sale of Laya Healthcare: Corebridge Financial's completion of the sale of Laya Healthcare Limited to AXA S.A. demonstrates the company's strategic decision-making and ability to optimize its portfolio. This successful transaction may have boosted investor confidence and contributed to the bullish market movement.
• 3. Lagging the Market: Despite the overall market performing well, Corebridge Financial's stock price only increased by 1% in the recent trading day. This suggests that while the company experienced some positive developments, it may not have fully capitalized on the market's bullish sentiment.
• Overall, the combination of the special dividend declaration and successful sale of Laya Healthcare likely contributed to the bullish movement in Corebridge Financial's stock today. However, the stock's lagging performance compared to the broader market indicates that there may be additional factors at play that tempered the overall market impact.

16.04.2024 - CRBG Stock was up 12.3%

• Sold 120 million shares of Corebridge Financial to Nippon Life for $3.8 billion, representing a 20% stake in the company. This significant divestment could be seen as a strategic move to unlock value or reallocate capital.
• The sale to Nippon Life, a Japanese insurance giant, could indicate a shift in ownership structure towards a more diversified and potentially global investor base, which might have positively influenced investor sentiment towards Corebridge Financial.
• This transaction marks a substantial deal for Nippon Life as it seeks to establish a stronger presence in the US market through its acquisition of a significant stake in Corebridge Financial, potentially boosting confidence in the company's growth prospects.
• Overall, the sale of the stake by AIG and the entry of Nippon Life as a strategic partner could be viewed as a positive development for Corebridge Financial, driving the bullish movement in the stock price.

01.07.2024 - CRBG Stock was down 4.4%

• Corebridge Financial surpassed EPS predictions but fell short of revenue forecasts for Q2 2024, prompting a downward trend in its stock value.
• The company's revenue being 27.50% lower than anticipated by analysts likely fueled investor apprehensions and the subsequent stock price drop.
• Despite achieving 9% growth in EPS and achieving record premiums, the revenue shortfall may have outweighed the positive aspects of the quarterly outcomes, impacting market sentiment negatively.
• The formal separation of Corebridge Financial from American International Group Inc. and associated accounting charges possibly contributed to weakened investor trust in the stock, exacerbating the downward trend.