Corebridge Financial

The stock climbed to a new 52-week high of $34.87 and is currently trading at $34.95, after a nearly 50% rise over the past six months. InvestingPro still rates the stock as relatively overvalued despite the momentum, but highlights share buybacks and strong momentum. Corebridge disclosed details about the merger with Equitable Holdings in an 8‑K filed with the SEC and released Q2 numbers: adjusted EPS $1.12 (in line with expectations), revenue $4.3 billion (below expectations). Investors focused on the robust earnings and the merger plans despite the revenue miss. » Mere på de.investing.com

At the KBW Insurance Conference, Corebridge said the planned merger with Equitable targets scale effects in retirement and asset management and aims to expand distribution and earnings power. Management expects the combined company to have more than 10 million customers, operating earnings of about $5 billion, cash flows of about $4 billion, a return on equity of 15%, and a market capitalization above $30 billion. Savings of around $500 million plus capital and tax benefits are expected to boost earnings per share by more than 10%, while revenue opportunities were cited from asset transfers to AllianceBernstein and cross-selling. Regulatory approvals and shareholder votes are underway; closing is still targeted for the end of 2026, and integration efforts and systems consolidation are expected to extend over several years. » Mere på de.investing.com

Corebridge Financial filed an 8‑K with the SEC containing audited consolidated financial statements of Equitable as well as unaudited interim statements and condensed pro‑forma combined financial information for the proposed merger. The filing relates to periods through June 30, 2026 and will be included in a registration statement and prospectus. Corebridge also reported Q2 results with adjusted earnings of $1.12 per share (meeting market expectations) and revenues of $4.3 billion (below forecast); investor reactions remained positive given strong operating results and the planned merger. » Mere på de.investing.com

Corebridge reported adjusted EPS of $1.12 for Q2, meeting the analyst consensus, while revenue of $4.3 billion missed expectations of $4.75 billion. The stock rose about 6.7% in after-hours trading to $33.72 as investors focused on stronger operating results, steady capital returns and merger expectations. The company returned $412 million to shareholders (including $300 million in buybacks), confirmed its full-year guidance for net investment income and expects weaker variable investment returns through the end of 2026; additional share buybacks of roughly $350 million are planned for H2. » Mere på de.investing.com

Shareholders of Corebridge and Equitable voted by large majorities at special meetings to approve the announced merger (preliminary approvals: Corebridge ~99.96% of votes cast; Equitable ~97.24%). Marc Costantini will be CEO of the combined company, and Mark Pearson will become executive chair. The merged firm is expected to serve over 12 million customers and anticipates closing the transaction by the end of 2026, subject to regulatory approvals and customary closing conditions. » Mere på de.investing.com