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American International Group, Inc. (AIG)

NYSE - Nasdaq Real-time price. Currency in USD
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48.63-1.14 (-2.28%)
As of 03:31PM EDT. Market open.

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  • t
    tolver
    They had some interesting insights about AIG on (http://dailygainalerts.tech) made me think twice about the company.
  • j
    josh
    9/12/22
    Credit Suisse Raises Price American International Group, Inc. (AIG) $55.00 -> $60.00
  • R
    Richy
    AIG insurance card reader online only 3.50 per month folks!!!!
  • R
    Richy
    I'd AIG internal bod operation?..
  • d
    duck
    i bought some today
  • M
    Matthew
    So much debt...
  • J
    John
    Have been searching for a tentative date since the launch news was released. Saw article yesterday that said the 15th, Thursday. Hopefully today's drop doesn't mess it up.
    Disappointed at first with the low valuation($15 Billion) but there may be a silver lining in that now both stocks may increase after the split. Corebridge's comparison companies have valuations similar to the day Blackstone bought it's 10% and one would assume they knew what they were doing. That means they are forced to throw a bone to the buyers of the IPO to get it off the ground and hopefully the stock gets to it's real value by end of the day. The real value is about 30% greater than the IPO price. Also, it's "only" a billion dollar total hit on a 40 billion market cap company and it will end the waiting. This values remainco at roughly $25 billion and I assume they will do an accelerated stock repurchase right after closing. Hopefully in the $5 Billion range, if not more. That brings the value of remainco down to 20 Billion when it should have close to 4 Billion in earnings. Seems cheap but I'm not sure if the market is interested in rewarding them for what are essentially bulletproof earnings due to their ceding 35% of the premium. As a reminder Chubb only cedes 20%.
    Interesting thing is done at Corebridge, will they also initiate a buyback since the price is so much lower than they thought. I don't know if they can do that since it's 75% owned by AIG shareholders.
    If they don't what will they do with their earnings? Don't know they can buy debt back since almost all their debt is new so will they pay a special dividend? They were talking about 600 million in dividends but their income should be much greater than that.
    Hopefully we know some answers by Thursday afternoon.
  • W
    Winorlose
    Sell while you can! No thanks
  • R
    Richy
    Is bod all international or some American folks? Tia
  • B
    Billy
    Other insurers have posted great results, especially P&C insurers. the short duration of a P&C policy is helping. Expect great results this quarter of course it's IAG so there is always some "one time" charges to offset any great operations/execution. Cash is king and they're discount to book and movement toward better quality policies/segments mean they'll deserve a better multiple. takes time to develop the market sentiment.
  • R
    Richy
    3.50 PT
  • J
    John
    IPO underwriters chosen(3). Have to believe that means the rest of the IPO process has passed SEC muster. Said on call there next window is September, hopefully the selection of underwriters means early September.
    Their capital % at remainco is close to 500%, the highest number I've ever heard on their calls. They talked about going as low as 600 million shares which is another 170 million from here and at current share price about $10 Billion of additional buyback. Assuming they get 3 billion from the IPO they can do a large buyback right of the back. They may need/want to do an accelerated buyback.
    A 10 Billion buyback puts the valuation of remainco at 10 Billion when they should have 4 billion of earnings power. Sounds cheap.
  • J
    John
    Normalized earnings appear to be roughly 6 billion x-cats. If not for the unusual L & R items(including alt investments) and alt investments at P & C they would have hit 1.50 EPS. If they get down to 650 million shares EPS could get over $8 as a combined entity. They are talking about getting down to as low as 600 million shares. Obviously this assumes they don't split, which they will. Just putting it out there to show the earnings power now that P & C is throwing off significant underwriting profit.
  • j
    josh
    American International Group (AIG) reported Q2 adjusted after-tax earnings of $1.19 per diluted share, down from $1.52 per share a year earlier.

    Analysts polled by Capital IQ estimated $1.13 per share.

    Net investment income for the quarter ended June 30 totaled $2.6 billion, down from $3.68 billion a year earlier.

    The board maintained a quarterly dividend of $0.32 per share, payable on Sept. 30 to stockholders of record on Sept. 16.

    AIG also repurchased roughly 30 million shares of common stock in Q2 for aggregate price of $1.7 billion.
  • R
    Richy
    Lolol
  • H
    Henry
    Senior management is flying this company into a mountain.
  • J
    John
    Last amendment(#3) to IPO filed 6/13, almost one month ago. Unless SEC is woefully understaffed or just simply way behind on things one would hope/think they could respond to an amendment within 30 days since they obviously suggested to the company that something was not sufficient with the initial filing and 2 subsequent amendments. In other words, it should only be Amendment 3 that the SEC needs to review and that should not take a freaking month to do. They, (AIG/Corebridge) should be telling us the SEC has approved the filing and they are just waiting for market conditions to improve or they should have filed amendment 4 by this time. Especially since they told us this should be done by end of Q2. They OWE us an explanation.