AIG's Remarkable Comeback and New 52-Week High
Believe it or not, AIG (NYSE:AIG) shares have bounced back 73% in 2010 and today they are up 7% trading at a new 52-week high of $52 and change.
American International Group Inc (AIG) shares have traded between $21.54 and $52.45 over the past 12 months. AIG shares are now trading with a P/E Ratio of 0 and EPS of -84.61. AIG is on the move again today after Bruce Berkowitz and Fairholme disclosed another purchase of an additional 1.66 million shares at $45.11 to 48.95.
AIG was bailed out by U.S. tax payers during the financial crisis of 2008 for a total bill of $182 billion, and the Treasury Department continues to hold a substantial portion of shares in the insurance giant.
Last Wednesday (12/10) AIG said that it would repay a loan from the Federal Reserve Bank of New York. AIG said that would clear the way for the U.S. Treasury to sell off the government’s stake.