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HomeBusinessAIG Shares Jump on Q1 Beat & Dividend Hike

AIG Shares Jump on Q1 Beat & Dividend Hike

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AIG (NYSE:AIG) shares jumped more than 7% on Friday after the company posted its Q1 earnings results, with EPS of $1.63 coming in above the Street estimate of $1.43. The company also increased its quarterly dividend by 12.5% to $0.36 per share or $1.44 annualized.
According to RBC Capital, the company continues to produce further core margin improvement due to past underwriting actions. Commercial line rate increases for the company are outpacing loss cost inflation.
The analysts see a path to an additional core margin improvement with new expense saves on the way. Their 2024 EPS estimate moved to $7.50 from $7.25.

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