AIG: Financial Winner, Again
NEW YORK (TheStreet) -- American International Group (AIG) was the winner among U.S. financial name on Thursday, heading into the holiday weekend with shares rising over 1% to close at $32.91.
The broad indexes were mixed, after the U.S. Labor Department reported that initial unemployment claims for the week ended March 30 were a seasonally adjusted 357,000 declining from 363,000 the previous week. Continuing claims for the week ended March 24 fell 16,000 to a seasonally adjusted 3.34 million.
Earlier on Thursday, stocks were weak, after yields on Spanish 10-year bonds rose another 12 basis points to 5.81%, their highest level during 2012.
The KBW Bank Index (I:BKX) pulled back slightly to close at 48.86.
AIG's shares have now returned 42% year-to-date, following a 52% decline during 2011.
The shares trade for 11 times the consensus 2013 earnings estimate of $2.89, among analysts polled by Thomson Reuters. The consensus 2012 EPS estimate is $2.73.