Industry Overview - The primary metals industry is attracting traders and investors seeking value, with a notable 13% rally in mining and metal stocks over the past two quarters driven by favorable market conditions [2] - Analysts are optimistic about precious metals stocks, projecting double-digit upside potential in the coming months as they gain attention amidst the technology stock craze [2][3] Economic Indicators - Recent ISM manufacturing PMI data indicates significant expansion in the primary metals industry, with three consecutive months of growth readings suggesting an accelerating trend [4] - Export orders in February expanded by 6.4%, contributing to economic growth and indicating stronger demand for metals [4] Stock Highlights - Uranium Energy is projected to have nearly 40% upside potential, with a price target of $8.8, as demand for alternative energy sources rises [6] - MP Materials is expected to see 87% growth in earnings per share (EPS) over the next twelve months, with a price target of $27.3, suggesting an 80% upside [6] - Wheaton Precious Metals is anticipated to grow its EPS by 12.5% in the next year, with a price target of $52.7, indicating an 18% upside [6]

Core Viewpoint - The article highlights stocks that are recommended for purchase during a recession, emphasizing their ability to enhance portfolio stability and safety regardless of overall economic sentiment [1] Group 1: Stocks Recommended for Recession - PepsiCo (PEP) has a strong dividend yield of 3.1% and projects 4% organic revenue growth for 2024, alongside at least 8% core constant currency EPS growth [2] - Altria (MO) offers a high dividend yield of 9.5% and has reaffirmed its 2024 earnings guidance, expecting adjusted diluted EPS between $5 and $5.15, indicating a growth rate of 1% to 4% from the previous year [5][6] - American International Group (AIG) anticipates robust investment income of at least $750 million per quarter in 2024, with a forecasted EPS increase of 50.7% to $7.51 per share [7][8] Group 2: Company Characteristics - PepsiCo's product mix and branding ensure its resilience during economic downturns, making it a reliable choice for investors [2] - Altria's focus on dividends and share repurchase programs positions it as a stable investment, despite a declining stock price [5][6] - AIG's strong liquidity of $3.6 billion and executed share repurchases of $785 million in Q3 2023 enhance its attractiveness as a recession-proof investment [7][8] Group 3: Analyst Predictions - Analysts predict a modest upside for PepsiCo, with a consensus "Buy" rating and an expected share price increase of 17.2% over the next twelve months [3] - AIG is expected to see a slight top-line expansion of 8.5% alongside significant EPS growth, indicating positive investor sentiment [8]

American International Group, Inc. (AIG) reported fourth-quarter 2023 adjusted earnings per share of $1.79, which outpaced the Zacks Consensus Estimate by 12.6%. The bottom line jumped 31.6% year over year.Operating revenues inched up 4.6% year over year to $12.7 billion in the quarter under review. The top line beat the consensus mark by 9.7%.The strong quarterly results were aided by strong underwriting results in the International business and North America Personal Insurance business of the General Insu ...

American International Group, Inc. (NYSE:AIG) Q4 2023 Earnings Conference Call February 14, 2024 8:30 AM ET Company Participants Quentin McMillan - Vice President, Managing Director and Head of Investor Relations Peter Zaffino - Chairman & Chief Executive Officer Sabra Purtill - Executive Vice President & Chief Financial Officer David McElroy - Executive Vice President & Chief Executive Officer, General Insurance Conference Call Participants Michael Zaremski - BMO Meyer Shields - KBW Elyse Greenspan - Wells ...

Fourth Quarter and Full Year 2023 Financial Results Presentation February 14, 2024 Copyright ® 2024 by American International Group, Inc. All rights reserved. No part of this document may be reproduced, republished or reposted without the permission of AIG. Group Performance Strategy Capital 4Q’23 Results FY’23 Results Investments Fourth Quarter Operating EPS* Increased 29% from Prior Year ...

For the quarter ended December 2023, American International Group (AIG) reported revenue of $12.72 billion, up 4.6% over the same period last year. EPS came in at $1.79, compared to $1.36 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $11.6 billion, representing a surprise of +9.65%. The company delivered an EPS surprise of +12.58%, with the consensus EPS estimate being $1.59.While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

Core Viewpoint - American International Group (AIG) reported strong quarterly earnings, exceeding expectations and showing growth compared to the previous year [1][2]. Financial Performance - AIG's quarterly earnings were $1.79 per share, surpassing the Zacks Consensus Estimate of $1.59 per share and up from $1.36 per share a year ago, representing an earnings surprise of 12.58% [1]. - The company posted revenues of $12.72 billion for the quarter, exceeding the Zacks Consensus Estimate by 9.65% and up from $12.17 billion year-over-year [1]. Market Performance - AIG shares have increased by approximately 2.9% since the beginning of the year, while the S&P 500 has gained 5.3% [2]. - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4]. Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.71, with expected revenues of $12 billion, and for the current fiscal year, the EPS estimate is $7.21 on revenues of $48.26 billion [4]. - The trend of estimate revisions for AIG is mixed, which may change following the recent earnings report [4]. Industry Context - The Insurance - Multi line industry, to which AIG belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5]. - James River Group, another company in the same industry, is expected to report a decline in earnings and revenues for the quarter ended December 2023 [5].

Core Insights - AIG reported strong financial results for 2023, with adjusted after-tax income per diluted share increasing by 33% to $6.79, reflecting excellent underwriting performance and strategic initiatives [1][6][5] - The company achieved a 15% year-over-year increase in underwriting income within General Insurance, totaling $2.3 billion, with a combined ratio improvement of 130 basis points to 90.6% [2][3] - Life & Retirement segment saw total premiums and deposits exceed $40 billion, benefiting from spread expansion and strong sales [3][14] General Insurance Performance - General Insurance net premiums written rose by 5% year-over-year, driven by a 17% increase in Lexington and a 10% increase in Global Specialty [3][12] - The accident year combined ratio improved to 87.7%, a 100 basis point improvement year-over-year, indicating effective management of underwriting risks [2][13] - North America Commercial Lines pricing increased by 7%, outpacing loss cost trends, while global commercial pricing rose by 6% [3][12] Life & Retirement Segment - Life & Retirement adjusted pre-tax income increased by 12% to $957 million, with Individual Retirement segment showing a significant 34% growth [14][16] - Total premiums and deposits in the Life & Retirement segment grew by 20% to $10.6 billion, driven by strong pension risk transfer volumes [16][14] - Net investment income for Life & Retirement on an APTI basis increased by 15% to $2.6 billion, reflecting higher income from fixed maturity securities and loans [16][15] Capital Management and Shareholder Returns - AIG reduced financial debt by $1.4 billion and returned approximately $4 billion to shareholders through stock repurchases and dividends, including a 12.5% increase in the common stock dividend [4][5] - The company maintained a strong liquidity position with $7.6 billion as of December 31, 2023, up $4 billion from the previous quarter [8][4] - Book value per common share increased by 16% from the previous quarter to $65.14, driven by a decrease in accumulated other comprehensive loss [8][11] Future Outlook - AIG enters 2024 with significant momentum, focusing on excellent underwriting, operations, and claims service to drive continued growth [5][1] - The company plans to deconsolidate Corebridge in 2024, which is expected to enhance visibility into its business and capital structure [4][5]

Core Viewpoint - American International Group (AIG) is expected to outperform consensus estimates in its fiscal Q4 2023 results, with projected revenues showing year-on-year growth despite previous mixed results [1][3]. Financial Performance - AIG reported total revenues of $12.78 billion in the last quarter, which was 9% lower than the previous year due to reduced premiums and a decline in net realized gains [1]. - For the first nine months of 2023, AIG's revenues decreased 13% year-on-year to $36.98 billion, while total premiums improved by 10% [3]. - Net investment income (NII) increased by 25% year-on-year during the same period, with expectations for similar performance in Q4 [3]. Earnings Estimates - AIG's fiscal Q4 2023 revenues are forecasted to be around $12.91 billion, which is 3% above the consensus estimate of $12.51 billion [3]. - The adjusted earnings per share (EPS) for Q4 2023 is expected to be $1.72, 5% higher than the consensus estimate of $1.64 [4]. - The annual GAAP EPS for FY2023 is projected to be $6.68 [4]. Stock Valuation - AIG's valuation is estimated at $78 per share, which is 12% higher than the current market price [2][5]. - The valuation is based on a GAAP EPS estimate of $6.68 and a P/E multiple of just below 12x for fiscal 2023 [5].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 —————————— FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8787 American International Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...