American International Group (AIG) saw a decrease in its price target by JPMorgan Chase & Co. to $83.00. Despite financial weakness recently, some consider it a top stock pick due to its strong fundamentals. Q3 2024 results showed strong earnings growth, though EPS missed expectations. Noteworthy is AIG's reliance on generative AI to accelerate underwriting processes. Senior leadership appointments include Christopher Schaper as Chief Risk Officer and Keith Walsh as CFO. AIG plans to expand its Atlanta footprint with a new Innovation Hub, promising over 600 local jobs. Interestingly, the company sold its Global Personal Travel Insurance business, including Travel Guard®, to Zurich. In another transaction, it sold a 20% stake in Corebridge to Nippon Life for $3.8 billion. Legal turbulence includes dispute with Dellwood Insurance over claims of 'bad leavers' by former AIG executives who founded the firm. Some view AIG as undervalued, making it an attractive investment. It continues to attract interest from significant players such as Principal Financial Group and Hosking Partners. Finally, AIG is set to participate in the forthcoming 2024 KBW Insurance Conference.
American International Group AIG News Analytics from Tue, 26 Mar 2024 12:17:06 GMT to Fri, 03 Jan 2025 13:18:52 GMT - Rating 2 - Innovation 7 - Information 8 - Rumor -1
