Corebridge Financial recently announced a dividend increase to $0.24 per share and expanded its equity buyback plan by $2,000 million, which might have influenced its modest share price rise of 0.9% over the last quarter. Despite a challenging macroeconomic environment, where major indices such as the Dow Jones and S&P 500 experienced declines of 1.2% and 0.8%, Corebridge reported a significant increase in net income and EPS for 2024. This robust financial performance, amidst broader market volatility and investor concerns over new tariffs, highlights Corebridge's resilience and ability to return value to shareholders. The company's strategic focus on enhancing its digital offerings, alongside industry recognition for its mobile optimization, positions it well against market pressures. As broader market sentiment remained cautious, Corebridge's initiatives may have helped maintain a buffer against the pronounced downward trends affecting many other sectors.

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Over the past year, Corebridge Financial achieved a total shareholder return of 27.80%, outpacing the US market's 12.1% return and the US Diversified Financial industry's 19% return. Several factors played a role in this performance. Notably, Corebridge's earnings surged by 102% compared to the previous year, significantly outperforming the industry's 15% growth. In addition, despite a slight revenue decline, the company reported an impressive net income of US$2.23 billion for 2024, bringing its basic EPS up to US$3.73 from US$1.72 the prior year.

Corebridge's robust share buyback program further bolstered shareholder value. Since May 2023, the company repurchased over 95 million shares, reducing the share count by 15.65%, with an additional US$2 billion allocated to extend this initiative. Furthermore, the company's valuation remained attractive, trading at a Price-To-Earnings Ratio of 7.6x, well below the industry average of 16.2x, signaling good relative value for investors.

• Discover whether Corebridge Financial is fairly priced, undervalued, or overvalued in our comprehensive valuation breakdown.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NYSE:CRBG.

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