American International Group Inc (AIG) - NYSE
  • Feb. 21, 2013, 4:10 PM
    AIG (AIG): Q4 EPS of 0.20, may not be comparable to the -$0.08 estimate. Revenue of $8.16B misses by $520M. Shares +2.6% AH. (PR)
    | Feb. 21, 2013, 4:10 PM | 3 Comments
  • Feb. 21, 2013, 9:56 AM
    Apple's (AAPL) out and AIG's in at the top of Goldman's VIP list - 50 stocks appearing as top holdings at hedge funds. 117 funds own the insurer, with 80 counting it as a top 10 holding. Apple is a top holding in 67 funds, down from 109 in Q4. Also slipping ahead of Apple is the next putative $1,000 stock, Google.
    | Feb. 21, 2013, 9:56 AM | 12 Comments
  • Feb. 21, 2013, 12:10 AM
    Notable earnings after Thursday’s close: ACTG, AIG, ARUN, ATLS, BMRN, BV, CENX, CLGX, COG, CUBE, CYH, DRYS, EXEL, EXR, FIRE, FLS, FTR, GDI, HPQ, INT, INTU, ITMN, JWN, MRVL, NEM, NPSP, ONXX, PSA, SBAC, SWN, TS, WBMD
    | Feb. 21, 2013, 12:10 AM
  • Feb. 20, 2013, 6:25 PM
    Morningstar's Ultimate Stock Pickers recently have displayed more breadth than depth in its high-conviction and new-money purchases, even with the increase in investor inflows in early part of 2013. Their newest top 10: TJX, GILD, AIG, BAC, AAPL, DVN, ORCL, WFC, DELL, KO.
    | Feb. 20, 2013, 6:25 PM | 7 Comments
  • Feb. 20, 2013, 5:35 PM
    Notable earnings after Thursday’s close: ACTG, AIG, ARUN, ATLS, BMRN, BV, CENX, CLGX, COG, CUBE, CYH, DRYS, EXEL, EXR, FIRE, FLS, FTR, GDI, HPQ, INT, INTU, ITMN, JWN, MRVL, NEM, NPSP, ONXX, PSA, SBAC, SWN, TS, WBMD
    | Feb. 20, 2013, 5:35 PM | 2 Comments
  • Feb. 19, 2013, 10:18 AM
    AIG tenders for up to $1.25B of certain of its outstanding notes with coupons ranging from 5.6% to 8.625%. (PR) 
    | Feb. 19, 2013, 10:18 AM | 2 Comments
  • Feb. 17, 2013, 3:41 AM

    The NY Fed is apparently trying to let BofA (BAC) off the hook for possible sizable legal claims related to former AIG (AIG) mortgage securities held by Maiden Lane II following the insurer's bailout in 2008. AIG has sued BofA to recover some of the $18B loss it suffered on the assets, but the bank argues that AIG gave its right to sue to the NY Fed when it sold the assets. The latter agrees and has released BofA from most of the connected legal liabilities even though it's not yet certain that the NY Fed has the right to do so.

    | Feb. 17, 2013, 3:41 AM | 28 Comments
  • Feb. 15, 2013, 11:05 AM

    Springleaf's (a JV between FIG and AIG) pricing of  $604M securitization of subprime personal loans (average balance: $3.5K, interest rate: 20%-36%) reportedly drew strong demand this week. It's the first such ABS in 15 years. Springleaf has its own financial worries, though they've been recently eased with some fancy trading by the experts at Fortress.

    | Feb. 15, 2013, 11:05 AM
  • Feb. 12, 2013, 10:15 AM
    There's an investing lesson in here somewhere. Harris Interactive's 2013 Reputation Quotient survey shows Amazon (AMZN) moving past Apple as the country's reputation leader. Bank of America (BAC) retains a spot in the bottom 5 (along with HAL, GS, and AIG), but enjoyed the largest reputation rebound in 2012. Maybe of most interest are those dropping off the list of visible companies, including: UPS, KSS, and GIS.
    | Feb. 12, 2013, 10:15 AM | 4 Comments
  • Feb. 5, 2013, 3:38 PM

    A rare bird is about to be spotted as Springleaf Financial - the consumer-lending JV between AIG and Fortress Investment (FIG) - is set for a $604M securitization of subprime personal loans. These are so out-of-favor they went mostly extinct a decade before the financial crisis (remember now-bankrupt Conseco), but raging demand for anything with yield is leading to a rebirth.

    | Feb. 5, 2013, 3:38 PM | 9 Comments
  • Feb. 5, 2013, 3:06 PM
    Apple (AAPL) bulls might be interested/relieved/concerned to know the stock's decline was enough to shake Whitney Tilson out of his long position (annual letter). Into 2013, his fund's largest holdings show a decided tilt towards financials - with BRK.B, AIG, C, and GS making the top 5. He's also an investor in Kyle Bass' fund making a big bet on a weaker yen and higher Japanese interest rates.
    | Feb. 5, 2013, 3:06 PM | 19 Comments
  • Feb. 4, 2013, 10:43 AM
    More from Berkowitz: The book value of Bank of America (BAC) should double over the next 3-4 years, he tells Bloomberg. If the valuation - currently at just over 0.5x book - moves to just a modest slightly-above book, the stock's a 4-bagger. There's a growth story here as well, he says. Should the GSEs wind down, banks and insurers like AIG are poised to grab the business.
    | Feb. 4, 2013, 10:43 AM | 8 Comments
  • Feb. 4, 2013, 10:10 AM
    Mutual fund rules make it impossible to add to his AIG, BAC, and SHLD positions, says Bruce Berkowitz, explaining to Bloomberg why he's closing the Fairholme Fund to new money. Does he want to own more? Yes, he says, hinting at a new vehicle (the Fairholme Partnership) which might allow him to do so.
    | Feb. 4, 2013, 10:10 AM | 5 Comments
  • Jan. 30, 2013, 4:34 PM

    Fairholme is closing 3 of its funds to new investors as of the end of February. It's not about heavy inflows; instead Bruce Berkowitz is fed up with outflows and prefers a smaller, core group of investors who understand his deep-value process. Berkowitz might also be having trouble finding investments, having narrowed his holdings to basically just AIG, SHLD, BAC, JOE, CIT, LUK, and MBIA (GGP was sold last night).

    | Jan. 30, 2013, 4:34 PM | 7 Comments
  • Jan. 28, 2013, 3:22 PM

    The Treasury violated its rules on executive pay as it went 18 for 18 in approving raises for AIG and GM execs over the past few years, according to SIGTARP. Treasury was warned of this a year ago, but disputes the report's findings.

    | Jan. 28, 2013, 3:22 PM | 7 Comments
  • Jan. 28, 2013, 12:45 PM
    AIG is "a once-in-a-generation opportunity," according to Bernstein, predicting a revaluation of the shares now trading for about 0.5x book value. Bernstein compares post-bailout AIG to a "demutualized" insurer - think MetLife, whose former CEO happens to be AIG's current one, Bob Benmosche. If AIG is a buy, says Todd Sullivan, the TARP warrants surely are too. Shares +2% today.
    | Jan. 28, 2013, 12:45 PM | 10 Comments
Company Description
American International Group, Inc. operates as a global insurance company, which provides property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. Its offerings include products and services that help businesses and individuals protect... More
Sector: Financial
Industry: Property & Casualty Insurance
Country: United States