American International Group, Inc. (NYSE: AIG) may be coming back into favor with investors. If its shares can mange to rise after a solid earnings, it might even be hated less by the public taxpayers. The insurance giant managed to turn in earnings of $0.82 EPS after operating income was $1.56 billion. Thomson Reuters only had estimates down at $0.63 EPS.
AIG closed up 1.1% at $27.99 and shares are initially indicated up about 6% at $29.71 in the after-hours trading session.
At the last secondary offering of shares, the government sold 300 million shares at $29.00 per share and the government still holds something close to 77% of AIG. If the stock rises much more, maybe it is time for another share sale by Uncle Sam.
It is hard to imagine, but CEO Robert Benmosche just noted on a brief CNBC interview that he may actually stay on longer than he expected. He said he is enjoying what he does now and the he is feeling better from his fight against cancer.
JON C. OGG
Top Gaining Stocks
Top Losing Stocks