The American International Group (AIG) continues to make waves in the market, demonstrating mixed performance. The company beat Q4 profit estimates thanks to investment gains, earning praise as a potential standout stock. Despite this positive trend, AIG's stock is reportedly underperforming the Nasdaq, is down 9% year to date, and is underperforming the market. However, the AIG stock has still been lauded by the likes of Hosking Partners, and is a favored dividend and value stock.
The firm's Q2 earnings and revenues did not meet estimates. A couple of institutional investors reduced their AIG holdings, while some, including Quest Partners LLC, increased their position. To re-shape its business, AIG sold its Travel Insurance Business to Zurich for $600 million and completed the separation of Corebridge. Additionally, AIG made a $3.4 billion sale of Corebridge Financial Common Stock. However, there were low points as well, including a lawsuit against former executives.
Leadership changes within the company saw the return of Gordon Browne as Global Head of Specialty, and Melissa Twiningdavis taking on the role of Executive Vice President & Chief Administrative Officer. The company made several strategic updates including AIG optimizing its portfolio with the sale of its Travel Insurance Business, selling its Corebridge common stock to Nippon Life Insurance Company, and appointing Adam Burk as the Global Treasurer & Head of Corporate Development.
American International Group AIG News Analytics from Fri, 26 Jan 2024 08:00:00 GMT to Fri, 13 Sep 2024 20:54:00 GMT - Rating 1 - Innovation -5 - Information 6 - Rumor 0
