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The last reported share price for Corbridge Financial was $21.08, but the fixed offering price is subject to change without notice. All net proceeds from this offering will go to AIG.
Corbridge Financial, a major provider of retirement solutions and insurance products in the U.S., currently manages over $360 billion in assets. The company partners with financial professionals and institutions across roughly 70 countries.
The registration statement for this offering was filed and became effective immediately on Monday. The offering is expected to close on Wednesday, November 8, 2023.
InvestingPro provides real-time data and tips for investors. American International Group (AIG), highlights that the management has been aggressively buying back shares, indicating confidence in the company’s future. The company is also a prominent player in the insurance industry, and despite a decline in revenue, it has maintained dividend payments for 11 consecutive years, which is a positive sign for income-focused investors.
InvestingPro data shows AIG with a market capitalization of $44.98 billion. The company’s P/E ratio for the last twelve months as of Q3 2023 is 9.58, which could suggest it’s undervalued compared to some of its peers. Additionally, the company has a dividend yield of 2.26% as of the end of 2023, which may be attractive to income-focused investors.
In terms of performance, AIG’s shares have been performing well, trading near their 52-week high and providing a 1-year price total return of 12.74% as of the end of 2023. According to InvestingPro, AIG’s fair value is $86.13, which is higher than the previous close price of $63.74. This could suggest a potential upside for investors.
For more detailed tips and data, investors can access InvestingPro’s comprehensive suite of tools and resources. They offer additional insights on a multitude of companies, including a total of 10 unique tips for AIG alone.
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