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AIG to Divest 20% Corebridge Stake to Nippon Life for $3.8B
zacks.com· 2024-05-16 17:40
Group 1: AIG's Divestment and Strategic Moves - AIG has agreed to divest approximately 120 million common stocks of its Corebridge Financial subsidiary to Nippon Life Insurance for $3.8 billion, equating to a 20% ownership stake in CRBG [1] - The divestment is expected to be finalized by Q1 2025, with AIG retaining a 9.9% stake in CRBG for two years post-transaction [1] - This move is aimed at enhancing Corebridge's investor base and expanding Nippon Life's presence in the U.S. market [1] Group 2: Financial Performance and Strategic Focus - AIG closed the IPO of Corebridge in September 2022 and has been reducing its ownership through secondary offerings to generate cash [2] - The company is streamlining operations to focus on its General Insurance business, which is expected to improve profitability and reduce portfolio volatility [2] - Recent divestments from global insurance organizations highlight AIG's commitment to refocusing on core operations [2] Group 3: Stock Performance - AIG shares have increased by 50.8% over the past year, outperforming the industry growth of 28.7% [4]
AIG(AIG) - 2024 Q1 - Quarterly Report
2024-05-02 19:04
Part I – Financial Information [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) AIG reported a significant Q1 2024 turnaround with net income attributable to common shareholders reaching **$1.2 billion**, a substantial increase from **$23 million** in Q1 2023, with total assets growing to **$544.1 billion** Condensed Consolidated Statements of Income (Loss) | Indicator | Three Months Ended March 31, 2024 (in millions) | Three Months Ended March 31, 2023 (in millions) | | :--- | :--- | :--- | | **Total Revenues** | $12,578 | $10,984 | | **Total Benefits, Losses and Expenses** | $10,527 | $11,215 | | **Income (Loss) from Continuing Operations** | $1,600 | $(87) | | **Net Income (Loss) Attributable to AIG** | $1,216 | $30 | | **Net Income (Loss) Attributable to AIG Common Shareholders** | $1,194 | $23 | | **Diluted EPS from Continuing Operations** | $1.74 | $0.03 | Condensed Consolidated Balance Sheet Highlights | Indicator | March 31, 2024 (in millions) | December 31, 2023 (in millions) | | :--- | :--- | :--- | | **Total Investments** | $322,216 | $322,672 | | **Total Assets** | $544,121 | $539,306 | | **Total Liabilities** | $495,011 | $488,005 | | **Total AIG Shareholders' Equity** | $43,385 | $45,351 | | **Total Equity** | $49,110 | $51,301 | Condensed Consolidated Statements of Cash Flows | Indicator | Three Months Ended March 31, 2024 (in millions) | Three Months Ended March 31, 2023 (in millions) | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $519 | $497 | | **Net Cash Provided by (Used in) Investing Activities** | $308 | $(1,474) | | **Net Cash Provided by (Used in) Financing Activities** | $(1,141) | $817 | | **Net Decrease in Cash and Restricted Cash** | $(343) | $(158) | [Note 1. Basis of Presentation](index=8&type=section&id=Note%201.%20Basis%20of%20Presentation) Financial statements are prepared under U.S. GAAP, with AIG consolidating Corebridge Financial, Inc. after its AIG Life Limited sale - On April 8, 2024, Corebridge completed the sale of AIG Life Limited to Aviva plc, receiving gross proceeds of **£453 million ($569 million)**[21](index=21&type=chunk) - As of March 31, 2024, AIG holds a **52.7%** ownership stake in Corebridge and continues to consolidate Corebridge in its financial statements. Blackstone Inc. holds a **10.1%** equity stake in Corebridge[22](index=22&type=chunk) [Note 3. Segment Information](index=10&type=section&id=Note%203.%20Segment%20Information) AIG reports across General Insurance, Life and Retirement, and Other Operations, with Q1 2024 adjusted pre-tax income of **$1.36 billion** for General Insurance and **$991 million** for Life and Retirement Adjusted Pre-tax Income (Loss) by Segment (in millions) | Segment | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **General Insurance** | $1,358 | $1,248 | | **Life and Retirement** | $991 | $886 | | **Other Operations** | $(408) | $(491) | | **Total Adjusted Pre-tax Income** | $1,941 | $1,643 | [Note 4. Held-For-Sale Classification](index=12&type=section&id=Note%204.%20Held-For-Sale%20Classification) As of March 31, 2024, AIG classified **$2.39 billion** in assets and **$1.81 billion** in liabilities as held-for-sale, primarily AIG Life Limited and real estate Assets and Liabilities Held-For-Sale (in millions) | Category | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets Held for Sale** | $2,388 | $2,268 | | **Total Liabilities Held for Sale** | $1,813 | $1,775 | [Note 5. Fair Value Measurements](index=13&type=section&id=Note%205.%20Fair%20Value%20Measurements) AIG details **$346.2 billion** in assets and liabilities measured at fair value, categorized by Level 1, 2, and 3, with a significant portion in Level 2 bonds available for sale Assets and Liabilities Measured at Fair Value on a Recurring Basis (March 31, 2024, in millions) | Category | Level 1 | Level 2 | Level 3 | Total | | :--- | :--- | :--- | :--- | :--- | | **Assets** | | | | | | Bonds available for sale | $188 | $202,753 | $29,546 | $232,487 | | Separate account assets | $91,859 | $3,314 | $— | $95,173 | | **Total Assets (net of netting)** | **$95,743** | **$221,765** | **$35,850** | **$346,212** | | **Liabilities** | | | | | | Policyholder contract deposits | $— | $63 | $8,550 | $8,613 | | Market risk benefit liabilities | $— | $— | $5,167 | $5,167 | - Level 3 assets, valued using significant unobservable inputs, totaled **$35.9 billion** at March 31, 2024, increasing from **$33.0 billion** at year-end 2023, primarily due to purchases, sales, and unrealized gains[51](index=51&type=chunk)[52](index=52&type=chunk)[54](index=54&type=chunk) [Note 6. Investments](index=27&type=section&id=Note%206.%20Investments) AIG's investment portfolio, primarily **$232.5 billion** in bonds available for sale, generated **$3.9 billion** in net investment income for Q1 2024, an **11%** increase year-over-year, despite **$424 million** in net realized losses Securities Available for Sale (Fair Value, in millions) | Category | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Corporate debt | $135,818 | $138,432 | | Mortgage-backed, asset-backed and collateralized | $68,819 | $64,569 | | Non-U.S. governments | $11,968 | $12,453 | | Obligations of states, municipalities | $10,093 | $10,663 | | U.S. government & sponsored entities | $5,789 | $5,616 | | **Total** | **$232,487** | **$231,733** | Net Investment Income (in millions) | Component | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Available for sale fixed maturity securities | $3,162 | $2,789 | | Interest on mortgage and other loans | $706 | $626 | | Other | $35 | $185 | | **Total Net Investment Income** | **$3,904** | **$3,533** | - Net realized losses totaled **$424 million** in Q1 2024, a significant improvement from the **$1.9 billion** loss in Q1 2023, largely due to a **$1.2 billion** swing in net realized gains (losses) on the Fortitude Re funds withheld embedded derivative[111](index=111&type=chunk) [Note 12. Insurance Liabilities](index=46&type=section&id=Note%2012.%20Insurance%20Liabilities) Total insurance liabilities include **$70.1 billion** for unpaid losses, **$59.0 billion** for future policy benefits, and **$163.7 billion** in policyholder contract deposits as of March 31, 2024 Key Insurance Liabilities (in billions) | Liability | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Unpaid Losses and Loss Adjustment Expenses | $70.1 | $70.4 | | Future Policy Benefits | $59.0 | $58.6 | | Policyholder Contract Deposits | $163.7 | $162.0 | - For the three months ended March 31, 2024, there was no prior year loss reserve development recognized, excluding discount and amortization of deferred gain, compared to a favorable development of **$27 million** in the same period of 2023[191](index=191&type=chunk) [Note 16. Equity](index=59&type=section&id=Note%2016.%20Equity) In Q1 2024, AIG repurchased **23.4 million** common shares for **$1.7 billion** and redeemed **$500 million** in preferred stock, followed by a new **$10.0 billion** share repurchase authorization and an **11%** dividend increase in April 2024 - In Q1 2024, AIG repurchased **23.4 million** common shares, reducing shares outstanding from **688.8 million** to **671.0 million**[250](index=250&type=chunk) - On March 15, 2024, AIG redeemed all **20,000** outstanding shares of its Series A Preferred Stock for an aggregate price of **$500 million**[247](index=247&type=chunk) - On April 30, 2024, the Board of Directors increased the quarterly common stock dividend by **11%** to **$0.40 per share** and authorized a new **$10.0 billion** share repurchase program[252](index=252&type=chunk)[253](index=253&type=chunk) [Note 17. Earnings Per Common Share (EPS)](index=63&type=section&id=Note%2017.%20Earnings%20Per%20Common%20Share%20(EPS)) AIG reported Q1 2024 basic EPS of **$1.75** and diluted EPS of **$1.74**, a substantial increase from **$0.03** in Q1 2023, reflecting significant net income growth EPS Calculation | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Income Attributable to AIG Common Shareholders (millions) | $1,194 | $23 | | Weighted Average Shares Outstanding - Basic (millions) | 682.6 | 738.7 | | Weighted Average Shares Outstanding - Diluted (millions) | 688.0 | 744.1 | | **Basic EPS** | **$1.75** | **$0.03** | | **Diluted EPS** | **$1.74** | **$0.03** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=67&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strong Q1 2024 performance, highlighting increased net income from improved underwriting and investment income, strategic capital management, and the impact of interest rates and currency volatility [Executive Summary](index=73&type=section&id=Executive%20Summary) AIG's Q1 2024 performance, across General Insurance, Life and Retirement, and Other Operations, was influenced by rising interest rates improving yields but increasing annuity surrenders, alongside currency volatility - AIG's operating structure comprises three segments: General Insurance (North America, International), Life and Retirement (Individual, Group, Life, Institutional), and Other Operations (Corporate, asset management, eliminations)[292](index=292&type=chunk)[293](index=293&type=chunk) - The rising interest rate environment has improved overall portfolio yields, with the yield pickup on new investments averaging **150 basis points** over dispositions in Q1 2024, though it also increased annuity surrenders[297](index=297&type=chunk)[300](index=300&type=chunk) - The strengthening of the U.S. dollar, particularly a **10%** increase against the Japanese Yen year-over-year, impacts reported growth trends for international operations, though the net effect on underwriting results is largely mitigated[304](index=304&type=chunk)[306](index=306&type=chunk) [Consolidated Results of Operations](index=76&type=section&id=Consolidated%20Results%20of%20Operations) AIG's Q1 2024 net income attributable to common shareholders increased by **$1.2 billion** to **$1.19 billion**, driven by favorable changes in realized gains and higher net investment income, with adjusted pre-tax income rising to **$1.9 billion** - The increase in net income was primarily driven by a **$1.2 billion** favorable change in net realized gains on the Fortitude Re funds withheld embedded derivative, higher net investment income of **$371 million**, and a **$565 million** favorable change in the fair value of market risk benefits[310](index=310&type=chunk) Reconciliation to Adjusted Book Value Per Common Share | Metric (in millions, except per share) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total AIG Common Shareholders' Equity | $43,385 | $44,866 | | Less: AOCI (adjusted for Fortitude Re) | $(12,965) | $(12,246) | | Less: Deferred Tax Assets | $4,153 | $4,313 | | **Adjusted Common Shareholders' Equity** | **$52,197** | **$52,799** | | Book Value Per Common Share | $64.66 | $65.14 | | **Adjusted Book Value Per Common Share** | **$77.79** | **$76.65** | [Business Segment Operations](index=80&type=section&id=Business%20Segment%20Operations) In Q1 2024, General Insurance adjusted pre-tax income grew to **$1.36 billion**, Life and Retirement increased to **$991 million**, and Other Operations reduced its loss to **$408 million** Adjusted Pre-tax Income by Segment (in millions) | Segment | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **General Insurance** | $1,358 | $1,248 | | **Life and Retirement** | $991 | $886 | | **Other Operations** | $(408) | $(491) | | **Total** | **$1,941** | **$1,643** | [Quantitative and Qualitative Disclosures About Market Risk](index=123&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Market risk disclosures are incorporated by reference from the Enterprise Risk Management section of the Management's Discussion and Analysis - The disclosures regarding market risk are incorporated by reference from the Enterprise Risk Management section of the MD&A[494](index=494&type=chunk) [Controls and Procedures](index=123&type=section&id=Item%204.%20Controls%20and%20Procedures) AIG's management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation as of March 31, 2024, AIG's Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[495](index=495&type=chunk) - No changes occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[496](index=496&type=chunk) Part II – Other Information [Legal Proceedings](index=124&type=section&id=Item%201.%20Legal%20Proceedings) For a detailed discussion of legal proceedings, this section refers to Note 15 of the Condensed Consolidated Financial Statements - For details on legal proceedings, the report refers to Note 15 of the Condensed Consolidated Financial Statements[497](index=497&type=chunk) [Risk Factors](index=124&type=section&id=Item%201A.%20Risk%20Factors) This section directs readers to the risk factors discussed in Part I, Item 1A of the company's 2023 Annual Report on Form 10-K - The report refers to the Risk Factors section of the 2023 Annual Report for a detailed discussion of potential risks[498](index=498&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=124&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 2024, AIG repurchased **23.4 million** common shares for **$1.7 billion**, with a new **$10.0 billion** repurchase program authorized on April 30, 2024 Share Repurchases in Q1 2024 | Period | Total Shares Repurchased | Average Price Paid per Share* | | :--- | :--- | :--- | | January 1-31 | 8,017,057 | $68.51 | | February 1-29 | 7,816,140 | $70.02 | | March 1-31 | 7,557,502 | $75.57 | | **Total** | **23,390,699** | **$71.30** | - On April 30, 2024, the Board of Directors authorized a new repurchase program for **$10.0 billion** of AIG Common Stock, which includes the approximately **$3.9 billion** remaining from the prior authorization[500](index=500&type=chunk)
AIG Beats on Q1 Earnings on Lower Costs, Approves Dividend Hike
Zacks Investment Research· 2024-05-02 17:56
Core Insights - American International Group, Inc. (AIG) reported first-quarter 2024 adjusted earnings per share of $1.77, exceeding the Zacks Consensus Estimate by 6.6% and improving 8.6% year over year [1] - Operating revenues reached $12.5 billion, a 0.8% year-over-year increase, surpassing the consensus mark by 3.6% [1] Quarterly Operational Update - Premiums totaled $8.2 billion, down 3.7% year over year, but exceeded the Zacks Consensus Estimate of $7.8 billion [2] - Total net investment income rose 11% year over year to $3.9 billion, driven by increased income from fixed maturity securities and loans [2] - Total benefits, losses, and expenses decreased 6.1% year over year to $10.5 billion, lower than estimates [2] - Adjusted return on common equity improved to 9.3%, up 60 basis points year over year [2] Segmental Performances General Insurance - Net premiums written fell to $4.5 billion, a 35% year-over-year decline, primarily due to softness in Financial Lines [3] - Underwriting income increased 19% year over year to $596 million, supported by strong contributions from North America Personal Insurance [3] - Catastrophe losses decreased significantly by 59.8% year over year to $106 million [3] Life & Retirement - Premiums and fees grew 6% year over year to $3.1 billion, with premiums and deposits increasing 2% to $10.7 billion [5] - Adjusted revenues rose 10.2% year over year to $5.9 billion, surpassing the Zacks Consensus Estimate [5] - Adjusted pre-tax income improved 12% year over year to $991 million, although it missed the consensus estimate [5] Financial Position (As of Mar 31, 2024) - Cash balance stood at $1.8 billion, down 15.7% from the end of 2023 [6] - Total assets increased by 0.9% to $544.1 billion [6] - Total equity decreased by 4.3% to $49.1 billion, while total debt to total capital improved to 28.1% [6] - Adjusted book value per share grew 3% year over year to $77.79 [6] Capital Deployment Update - AIG repurchased shares worth $1.7 billion and distributed $250 million in dividends [7] - Management authorized an increase of up to $10 billion in share buyback authorization effective from May 2024 [7] - A quarterly dividend hike of 11% was announced, raising the dividend to 40 cents per common share [7] Performances of Other Insurers - Arch Capital Group Ltd. reported operating income of $2.45 per share, beating estimates by 18.9% and showing a 41.6% year-over-year increase [9] - Cincinnati Financial Corporation's operating income surged 93.2% year over year to $1.72 per share, although total operating revenues missed estimates [10] - Kinsale Capital's net operating earnings reached $3.50 per share, exceeding estimates by 5.1% and increasing 43.4% year over year [11]
AIG(AIG) - 2024 Q1 - Earnings Call Transcript
2024-05-02 16:07
Financial Data and Key Metrics Changes - Adjusted after-tax income was $1.2 billion or $1.77 per diluted common share, representing a 9% increase in earnings per share year-over-year [9] - Consolidated net investment income on an adjusted pretax income basis was $3.5 billion, a 13% increase year-over-year [9] - General insurance underwriting income was $596 million, a 19% increase year-over-year [9] - The accident year combined ratio excluding catastrophes improved by 30 basis points to 88.4% [10] Business Line Data and Key Metrics Changes - Life & Retirement segment reported premiums and deposits of $10.7 billion, the highest quarterly result in the last decade, with strong APTI growth of 12% [10] - General Insurance net premiums written were $4.5 billion, reflecting the impact of divestitures [14] - North America Commercial net premiums written grew 4%, with Lexington growing 24% [14] - International Commercial net premiums written were flat, with International Property growing 23% [16] Market Data and Key Metrics Changes - Global Commercial net premiums written growth was 1% year-over-year when excluding divestitures [14] - North America Financial Lines declined 4% year-over-year, indicating a challenging market environment [15] - International Financial Lines experienced a 5% decline [16] Company Strategy and Development Direction - The company aims for a 10% plus ROCE post-deconsolidation of Corebridge, with a focus on underwriting excellence and disciplined capital management [32] - AIG Next initiative is expected to generate approximately $500 million in annual run rate savings by the end of 2025 [33] - The company is committed to reducing its ownership stake in Corebridge and exploring strategic alternatives for maximizing long-term value [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver sustained profitability and improve combined ratios [32] - The competitive environment is conducive for growth, particularly in excess and surplus lines, despite challenges in financial lines [54] - The company anticipates continued financial improvement driven by higher earned premiums and lower loss ratios [19] Other Important Information - The AIG Board approved an 11% increase in the quarterly common stock dividend to $0.40 per share [11] - The company returned over $2.4 billion to shareholders through stock repurchases and dividends [11] - AIG's total debt was reduced to $9.8 billion, a decrease of over $12 billion since the end of 2021 [29] Q&A Session Summary Question: Regarding inorganic opportunities and capital management expectations - Management confirmed commitment to the outlined capital management structure, indicating that while inorganic opportunities are not a priority, they are not ruled out if compelling [52] Question: Competitive environment relative to growth - Management noted that while the market is challenging, there are still opportunities for growth, particularly in specialty and casualty lines, despite some noise in premium written [54] Question: Timeline for Corebridge deconsolidation - Management expects to finalize the Corebridge deconsolidation by the end of the second quarter, subject to market conditions [58] Question: Share count target and Corebridge impact - The share count target of 550 million to 600 million includes expectations for future sell-downs of Corebridge shares [60] Question: Reinsurance strategy and capital usage - Management is comfortable taking more net risk but emphasizes a strategic approach to reinsurance to control volatility and improve underwriting results [66]
American International Group (AIG) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Zacks Investment Research· 2024-05-02 00:01
Core Insights - American International Group (AIG) reported $12.47 billion in revenue for Q1 2024, a year-over-year increase of 0.8% and a surprise of +3.57% over the Zacks Consensus Estimate of $12.04 billion [1] - The earnings per share (EPS) for the same period was $1.77, compared to $1.63 a year ago, resulting in an EPS surprise of +6.63% over the consensus estimate of $1.66 [1] Financial Metrics - Combined Ratio for Total General Insurance was 89.8%, better than the estimated 90.7% [2] - Expense Ratio for Total General Insurance was 31.8%, compared to the average estimate of 32% [2] - Loss Ratio for Total General Insurance was 58%, slightly better than the average estimate of 58.7% [2] - Combined Ratio for International - Commercial Lines was 83.6%, outperforming the four-analyst average estimate of 87.9% [2] - Adjusted Revenue for Life and Retirement - Net investment income was $2.65 billion, exceeding the estimate of $2.64 billion and representing a +16.2% change year-over-year [2] - General Insurance - Net premiums earned were $5.79 billion, slightly below the estimate of $5.80 billion, reflecting a year-over-year decline of -7.6% [2] - Adjusted Revenue for Group Retirement was $689 million, compared to the estimate of $693.39 million, showing a +0.9% change year-over-year [2] - Adjusted Revenue for Life Insurance was $1.21 billion, below the average estimate of $1.28 billion, indicating a -2.8% change year-over-year [2] - Adjusted Revenue for Institutional Markets was $2.33 billion, significantly above the estimate of $1.62 billion, representing a +19.3% change year-over-year [2] - Adjusted Revenue for Life and Retirement - Premiums was $2.36 billion, exceeding the estimate of $1.73 billion, with a +7.3% change year-over-year [2] - Adjusted Revenue for Life and Retirement - Policy fees was $714 million, slightly below the estimate of $722.40 million, with a +2.3% change year-over-year [2] - Adjusted Revenue for Individual Retirement was $1.69 billion, matching the estimate and showing a +13.6% change year-over-year [2] Stock Performance - AIG shares have returned -3.5% over the past month, compared to the Zacks S&P 500 composite's -4.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]
AIG(AIG) - 2024 Q1 - Quarterly Results
2024-05-01 20:23
Press Release Contacts: www.aig.com Quentin McMillan (Investors): quentin.mcmillan@aig.com Claire Talcott (Media): claire.talcott@aig.com AIG Reports Strong First Quarter 2024 Results ■ Net income per diluted share was $1.74 and adjusted after-tax income* (AATI) per diluted share was $1.77 ■ General Insurance underwriting income increased 19% year-over-year to $596 million, or 67% on a comparable basis*† ■ General Insurance adjusted pre-tax income (APTI) increased 9% year-over-year to $1.4 billion, or 27% o ...
American International Group (AIG) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates
Zacks Investment Research· 2024-04-26 14:21
In its upcoming report, American International Group (AIG) is predicted by Wall Street analysts to post quarterly earnings of $1.68 per share, reflecting an increase of 3.1% compared to the same period last year. Revenues are forecasted to be $12.04 billion, representing a year-over-year decrease of 2.7%.The current level reflects an upward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised ...
Why American International Group (AIG) is Poised to Beat Earnings Estimates Again
Zacks Investment Research· 2024-04-16 17:16
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? American International Group (AIG) , which belongs to the Zacks Insurance - Multi line industry, could be a great candidate to consider.This insurer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 8.22%.For the most recent quarter, American Int ...
AIG: Focused Buybacks, Steady Dividends, And A Turnaround Story
Seeking Alpha· 2024-04-10 08:51
Monty Rakusen/DigitalVision via Getty Images American International Group (NYSE:AIG) is a well-known insurance company, for many because of the days of the 2008 Financial Crisis. Yet, it's still here, and things can change with time. I was curious to see if that made it a worthwhile investment in 2024. The market sure seems to believe in it. AIG 1Y Price History (Seeking Alpha) It's up over 48% in the past year! After taking a look, I found myself agreeing, and I'll review AIG's improvements and why, even a ...
3 Stocks About to Book Gains on Building Products Demand
MarketBeat· 2024-04-04 17:07
Key PointsThese three stocks rise on product demand from the latest breakouts in the construction and housing sectors.Institutions rate them as a Buy, and analysts think EPS could soar above the rest of the industry. Price action indicates momentum is present, giving Main Street a leg up to Wall Street's thinking.5 stocks we like better than RayonierInvestors often follow the latest trends in the U.S. economy and attempt to align their portfolios with the best industries, some of which could have a breakout ...