Analyst Consensus ?
ConsensusHold41 ratings
Bullish1536.6%
Neutral2561.0%
Bearish12.4%
American International Group, Inc. · AIG · FY2023 Q4 · Calendar Q1 2024
AIG: Strong underwriting, capital returns and AIG Next savings plan
The supplied analysis supports a constructive but qualified view: stronger underwriting, premium growth, capital returns and cost-reduction efforts improved AIG's operating trajectory, while expense trends, Financial Lines conditions and Corebridge execution remain key tests.
Reported After market closeNYSEFinancial Services
$43.08B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.79
Consensus $1.64
EPS surprise
+9.1%
Reported versus consensus
Reported revenue
$9.97B
Consensus $11.61B
Revenue surprise
-14.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-1.3%
Event window
SPY move
+0.9%
Same window
Abnormal move
-2.2%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+9.7%
Up to 20 sessions
AIGSPY benchmark
Ask FN2 about AIG FY2023 Q4
Transcript, numbers and history already loaded
Why did AIG fall 1.3% after beating EPS estimates in FY2023 Q4?What changed in AIG's guidance and outlook in FY2023 Q4?Give me the bull and bear case for AIG after FY2023 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis emphasizes a stronger fourth quarter and full year, with adjusted EPS up 33% year over year, $4 billion returned to shareholders, further portfolio simplification and the launch of AIG Next. Compared with the prior-quarter analysis, the focus shifted toward post-Validus expense and loss-ratio questions, Corebridge-related liquidity and execution, and targeted investment in selected growth segments.
Guidance delta
Maintained; the supplied analysis does not identify a new numerical guidance change.
Key takeaways
- Adjusted EPS rose 33% year over year to $6.79, according to the supplied transcript analysis.
- Underwriting income improved across all segments, with premium growth supported by rate increases and retention.
- AIG returned $4 billion to shareholders and advanced portfolio simplification and Corebridge deconsolidation.
- AIG Next targets $500 million of annual cost savings, with a $500 million upfront investment.
Management priorities
- Execute AIG Next cost-reduction initiatives.
- Continue share repurchases and dividend growth.
- Advance Corebridge deconsolidation.
- Invest in Japan, global accident and health, and high-net-worth segments.
- Maintain rate discipline and underwriting performance.
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Miss
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Analyst 52W Price Targets
$81.26Current
$50Low
$83.15Average
$98High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 12, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 12, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 7, 2026 |
| UBS | Buy | Buy | Maintain | Oct 6, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 6, 2026 |
| Argus Research | Buy | Buy | Maintain | Sep 2, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 17, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 10, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Aug 10, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 7, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 20, 2026 |
| HSBC | Buy | Buy | Maintain | Jul 6, 2026 |
| Citigroup | Neutral | Neutral | Maintain | May 4, 2026 |
| TD Cowen | Hold | Hold | Maintain | Dec 16, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Nov 20, 2025 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 1, 2025 |
| Jefferies | Buy | Buy | Maintain | Apr 11, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Mar 13, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Oct 10, 2024 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Feb 22, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Sep 12, 2022 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Feb 10, 2022 |
| Deutsche Bank | Hold | Hold | Maintain | May 13, 2021 |
| CFRA | Buy | Hold | Upgrade | Aug 4, 2020 |
| William Blair | Market Perform | Outperform | Downgrade | May 6, 2020 |
| Autonomous Research | Outperform | Market Perform | Upgrade | Jan 8, 2020 |
| Compass Point | Buy | Buy | Maintain | May 7, 2019 |
| Argus | Hold | Buy | Downgrade | Feb 15, 2019 |
| Buckingham Research | Neutral | Underperform | Upgrade | Apr 27, 2018 |
| Buckingham | Neutral | Underperform | Upgrade | Apr 27, 2018 |
| Bank of America | Buy | Neutral | Upgrade | Feb 9, 2018 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Aug 4, 2016 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Mar 30, 2016 |
| Janney Capital | Buy | Neutral | Upgrade | Mar 30, 2016 |
| FBR Capital | Market Perform | Market Perform | Maintain | Feb 26, 2016 |
| Standpoint Research | Buy | Hold | Upgrade | Jan 19, 2016 |
| Avondale Partners | Underperform | Market Perform | Downgrade | Nov 4, 2015 |
| PiperJaffray | Overweight | Overweight | Maintain | Nov 3, 2015 |
| Sterne Agee | Neutral | Neutral | Maintain | Oct 13, 2014 |
| Nomura | Neutral | Neutral | Maintain | Aug 5, 2014 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Mar 1, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $81.26. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $83 | $77.04 | +2.1% | Oct 12, 2026 |
| Morgan Stanley | Bob Huang | $80 | $75.97 | -1.6% | Oct 6, 2026 |
| Wells Fargo | Elyse Greenspan | $85 | $78.78 | +4.6% | Aug 10, 2026 |
| Piper Sandler | Paul Newsome | $80 | $79 | -1.6% | Jul 15, 2026 |
| Mizuho Securities | Analyst unavailable | $89 | $79.62 | +9.5% | Jul 9, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $92 | $79.62 | +13.2% | Jul 9, 2026 |
| UBS | Analyst unavailable | $98 | $80.47 | +20.6% | Jul 8, 2026 |
| HSBC | Analyst unavailable | $88 | $79.39 | +8.3% | Jul 6, 2026 |
| Barclays | Alex Scott | $80 | $74.8 | -1.6% | May 1, 2026 |
| Morgan Stanley | Bob Huang | $83 | $76.84 | +2.1% | Mar 16, 2026 |
| UBS | Analyst unavailable | $92 | $79.07 | +13.2% | Feb 17, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $81 | $78.76 | -0.3% | Feb 17, 2026 |
| Mizuho Securities | Yaron Kinar | $86 | $78.27 | +5.8% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $83 | $72.29 | +2.1% | Jan 14, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $77 | $72.29 | -5.2% | Jan 14, 2026 |
| Barclays | Analyst unavailable | $81 | $77.07 | -0.3% | Jan 8, 2026 |
| Goldman Sachs | Robert Cox | $83 | $77.07 | +2.1% | Jan 7, 2026 |
| Piper Sandler | Analyst unavailable | $95 | $86.03 | +16.9% | Dec 22, 2025 |
| Mizuho Securities | Yaron Kinar | $84 | $86.3 | +3.4% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $88 | $77.28 | +8.3% | Dec 5, 2025 |
| RBC Capital | Rowland Mayor | $85 | $75.11 | +4.6% | Nov 24, 2025 |
| Goldman Sachs | Analyst unavailable | $84 | $75.18 | +3.4% | Nov 20, 2025 |
| Barclays | Analyst unavailable | $95 | $80.71 | +16.9% | Nov 5, 2025 |
| UBS | Brian Meredith | $94 | $84.05 | +15.7% | Oct 8, 2025 |
| Morgan Stanley | Bob Huang | $84 | $83.4 | +3.4% | Oct 7, 2025 |
| Piper Sandler | Analyst unavailable | $88 | $79.64 | +8.3% | Oct 2, 2025 |
| Cantor Fitzgerald | Ryan Tunis | $84 | $78.48 | +3.4% | Aug 12, 2025 |
| Wells Fargo | Elyse Greenspan | $82 | $83.05 | +0.9% | May 6, 2025 |
| Barclays | Alex Scott | $98 | $87.72 | +20.6% | Apr 2, 2025 |
| HSBC | Analyst unavailable | $93 | $81.31 | +14.4% | Mar 5, 2025 |
| CFRA | Catherine Seifert | $87 | $75.39 | +7.1% | Nov 5, 2024 |
| Jefferies | Yaron Kinar | $88 | $74.63 | +8.3% | Oct 9, 2024 |
| HSBC | Vikram Gandhi | $82 | $73.8 | +0.9% | Sep 24, 2024 |
| Barclays | Alex Scott | $90 | $76.69 | +10.8% | Sep 4, 2024 |
| Bank of America Securities | Joshua Shanker | $82 | $79.23 | +0.9% | Aug 1, 2024 |
| Jefferies | Yaron Kinar | $90 | $74.57 | +10.8% | Jul 8, 2024 |
| Evercore ISI | David Motemaden | $78 | $74.49 | -4.0% | Jun 26, 2024 |
| Morgan Stanley | Bob Huang | $82 | $78.74 | +0.9% | May 16, 2024 |
| CFRA | Catherine Seifert | $90 | $78.74 | +10.8% | May 16, 2024 |
| HSBC | Vikram Gandhi | $86 | $79.44 | +5.8% | May 15, 2024 |
| BMO Capital | Michael Zaremski | $89 | $79.43 | +9.5% | May 13, 2024 |
| Piper Sandler | Paul Newsome | $89 | $72.99 | +9.5% | Apr 19, 2024 |
| BMO Capital | Michael Zaremski | $91 | $77.92 | +12.0% | Apr 8, 2024 |
| RBC Capital | Mark Dwelle | $87 | $76.62 | +7.1% | Apr 5, 2024 |
| BMO Capital | Michael Zaremski | $83 | $66.46 | +2.1% | Dec 19, 2023 |
| Bank of America Securities | Joshua Shanker | $63 | $56.55 | -22.5% | Oct 7, 2021 |
| J.P. Morgan | Jimmy Bhullar | $55 | $47.44 | -32.3% | Jul 1, 2021 |
| Credit Suisse | Andrew Kligerman | $50 | $49.21 | -38.5% | May 11, 2021 |
| Piper Sandler | Paul Newsome | $52 | $46.07 | -36.0% | Apr 12, 2021 |
Track every rating change on AIG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAmerican International Group, Inc. (AIG) is a global insurance provider, delivering a broad spectrum of insurance solutions to commercial, institutional, and individual clients across North America and worldwide. Its General Insurance division encompasses a wide range of coverages, including general liability, environmental protection, commercial auto liability, workers' compensation, casualty, and crisis management. This segment also covers property risks for commercial, industrial, and energy sectors, with further specialized offerings such as aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance policies. Additionally, AIG supplies professional liability coverage for various business operations and potential hazards, such as directors and officers (D&O), mergers and acquisitions (M&A), fidelity bonds, employment practices, fiduciary liability, cyber risk, kidnap and ransom, and errors and omissions (E&O) insurance.…
Historical context
All AIG earningsFinancial Services peers this season
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- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
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Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the AIG recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-25T06:30:42.285431+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T06:30:42.282637+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.