Here's Why Investors Should Hold Corebridge (CRBG) Stock Now

Corebridge Financial Overview - Corebridge Financial, Inc. (CRBG) has shown strong stock performance, gaining 59.9% year-to-date compared to the industry's 22.2% growth [1] - The company is supported by rising premiums from a diversified product suite and new business growth, along with increasing fee and investment income [2] Financial Performance - The consensus estimate for Corebridge's revenues is $23.3 billion, indicating a 9.9% growth from 2023 [3] - Corebridge's earnings have surpassed estimates in three of the last four quarters, with an average surprise of 4.3% [4] - The return on equity stands at 23.6%, significantly higher than the industry's average of 14.1%, reflecting efficient use of shareholders' funds [5] Revenue Drivers - Corebridge's top line is expected to benefit from rising premiums, fee income, and net investment income, with premiums reaching a decade-high of $10.6 billion in Q1 2024 [6] - Higher yields from the investment portfolio and a robust advisory platform contribute to ongoing top-line growth [7] - The aging U.S. population is anticipated to sustain demand for retirement planning services [7] Strategic Initiatives - Corebridge is pursuing partnerships to enhance its product portfolio and market reach, while also engaging in divestitures to focus on core operations [8] - The company generated operating cash flows of $3.7 billion in Q1 2024, providing capital for business investments [9] Shareholder Value - Corebridge's dividend yield is 3.2%, higher than the industry average of 2.6%, with a target payout ratio of 60%-65% for 2024 [10] - The company repurchased shares worth $243 million and paid dividends of $143 million in Q1 2024, with an increased share repurchase authorization of $2 billion [18] Growth Prospects - The high interest rate environment is driving demand for annuity products and policy sales, while high retention rates support premium growth [15] - Corebridge's diversified product offerings across Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets continue to generate significant cash flows [16] - Investments in technology are aimed at enhancing digital capabilities and improving customer experiences [17]