From Nasdaq: 2024-06-24 00:05:46

American International Group’s stock (NYSE: AIG) has gained 9% YTD, slightly below the S&P500’s 15% increase. With a fair value estimate of $85, AIG is currently trading at $74 per share, indicating a 13% discount.

In Q1 2024, AIG exceeded expectations with total revenue up 15% y-o-y to $15.6 billion. Despite a 4% decrease in total premiums, adjusted net income rose significantly from $23 million to $1.19 billion. FY 2023 saw a 14% revenue decrease and a 65% drop in adjusted net income to $3.61 billion.

Looking ahead, AIG is expected to reach $47.9 billion in revenue for FY 2024 with a potential EPS of $7.01. Recent returns show AIG outperforming the S&P 500 MTD but slightly underperforming YTD. AIG’s strong financial performance in Q1 highlights its potential for future growth and recovery.



Read more at Nasdaq: American International Group Stock Is Up 9% YTD, What’s Next?