Banking, finance, and taxes

Treasury Exits Last AIG Stake

Stock Split Image
Jon Ogg
American International Group, Inc. (NYSE: AIG) is just about entirely about to be outside of the government’s direct oversight. Uncle Sam’s giant bailout has already turned out to be profitable for taxpayers, but now we have news that the Treasury Department is about to sell its remaining stake of 16% or so in the insurance giant.

We have been calling for Uncle Sam to use the strength of the last secondary stock sale as cover for a total and complete exit from this bailout. Now that finally appears to be happening.

AIG shares closed down 2.2% at $33.36 on Monday against a 52-week range of $22.19 to $37.67. We last saw AIG down only 0.5% at $32.85 in the after-hours session.

It appears as though the US Treasury may still hold onto some warrants even after the share sale. What this does for 2013 and beyond is allow investors to evaluate AIG as its own company rather as a company that is effectively in receivership. The problem that AIG has is that many investors still cannot decide how they are supposed to evaluate this behemoth.

JON C. OGG

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans  set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.