American International Group (AIG) reported a turbulent fiscal quarter with revenues not reaching estimates and displaying a less than expected rise in profit.
Piper Sandler lowered its price target for AIG stock to $86.00 and further complications arose from a second-quarter loss due to its separation from
Corebridge. However, AIG has experienced several positive scenarios as well, with its stock up 9% year-to-date and also outperforming the market; viewed as a strong value stock,
ClearBridge Value Equity Strategy describes AIG as an 'internal return engine'. AIG also met requirements to deconsolidate Corebridge Financial. The sale of 20% of Corebridge to
Nippon Life for $3.8 billion and the selling of
AIG's Global Personal Travel Insurance and Assistance Business including
Travel Guard® to Zurich reflected efforts to streamline business interests. Meanwhile, AIG also declared a strong Q4 and full year 2023 results. It is noteworthy that those investing in AIG five years ago saw an 88% return. Yet, the future remains uncertain with the risk of Q2 earnings hitting a pothole.
American International Group AIG News Analytics from Sat, 04 Mar 2023 08:51:06 GMT to Sun, 04 Aug 2024 17:10:47 GMT -
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