Corebridge Financial: Profitability Turn Drives Reevaluation of Discount Valuation Narrative

Corebridge Financial (CRBG) has shifted from a five-year run of steep earnings declines to a new outlook calling for earnings growth of 52.03% per year. With profits expected to grow faster than the broader US market, investors have taken note. The company's profitability is poised for a jump to 13.3%, with analysts citing capital-light revenue streams, digital modernization, and a transformative exit from legacy risk as catalysts. Corebridge trades at a current PE ratio of 17x, above the industry norm, but analysts justify this with faster forecasted earnings growth and improving profit margins.