Corebridge Financial (CRBG) PT Lowered to $32 at RBC Capital

RBC Capital analyst Mark Dwelle lowered the price target on Corebridge Financial (NYSE: CRBG) to $32.00 (from $33.00) while maintaining a Outperform rating.

The analyst comments "Corebridge reported slight upside in the quarter with Individual Retirement and Life Insurance segments driving overall results. Premiums and deposits growth remains healthy across most key areas. Higher interest rates remain a plus although comparisons are becoming a bit more difficult to improve spreads. The ROE was a solid 12% 1H24. VII remained a soft spot although there are some signs of this bottoming. Capital return remains healthy and we expect the company to stay active on this front in 2H25 that could be aided by recent proceeds from its UK Life unit sale."

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