American International Group (AIG) has been highlighted, reflecting positive performance in Q1 2024 earnings transcript and a strategic increase in its dividend to $0.40. An equal-weight recommendation has been initiated by Morgan Stanley. Victory Capital Management Inc is increasing its position in AIG. AIG's Q1 2024 earnings surpassed EPS estimates with strategic gains, which improved the underwriting margin and increased the stock by 9.1%.
AIG also released its Q4 and full year 2023 results recently, which showed great strength on general insurance and significant strategic gains. The company's general insurance unit chair, David McElroy, announced his retirement effective from May 1. There were legal proceedings against former senior executives who launched rival insurer Dellwood. AIG’s stock price, which experienced a slight fall, is expected to rise with the forecasted growth in earnings. The company's leadership is also changing, with new appointments being made. On the downside, AIG had to pay a $12 million penalty over pension risk transfers in New York.
Furthermore, AIG is looking to sell 35 million shares of Corebridge Financial and has filed for an IPO of its life and retirement business. S&P Global Ratings have recently revised AIG's outlook to stable and affirmed the ratings. This all paints an overall optimistic picture for AIG's performance as we transcend into Q2.
American International Group AIG News Analytics from Sat, 04 Mar 2023 16:10:44 GMT to Tue, 07 May 2024 10:56:59 GMT - Rating 8 - Innovation 4 - Information 7 - Rumor 2
