|Bid||52.70 x 800|
|Ask||53.10 x 2900|
|Day's Range||52.53 - 53.08|
|52 Week Range||40.00 - 58.66|
|Beta (5Y Monthly)||1.17|
|PE Ratio (TTM)||26.29|
|Earnings Date||Feb 10, 2020 - Feb 16, 2020|
|Forward Dividend & Yield||1.28 (2.44%)|
|Ex-Dividend Date||Dec 09, 2019|
|1y Target Est||60.69|
AIG has selected Mazars to audit its UK operations, marking the first time the global insurance group has looked beyond a Big Four accounting firm to vet its books. The appointment of a mid-tier auditor comes just over a decade after the near-collapsed insurer received a huge bailout at the height of the financial crisis following a series of disastrous bets on credit default swaps that stemmed from its AIG Financial Products division in London. aimed at ending the cosy relationships between companies and the Big Four, which also includes Deloitte, KPMG and EY.
Varagon Capital Partners, L.P. ("Varagon"), a leading direct lender to middle market companies, today announced that it has entered into a definitive agreement to form a new strategic partnership with Aflac Global Investments ("Aflac") and is extending its existing strategic partnership with American International Group ("AIG").
(Bloomberg) -- Aflac Inc.’s asset management arm has agreed to take a minority stake in direct lender Varagon Capital Partners as the insurer looks to capitalize on the booming world of private credit.The unit is acquiring the stake from former and current partners and affiliates of Oak Hill Capital, Varagon said in a statement Wednesday. Terms of the deal weren’t disclosed. Aflac Global Investments will also build a middle market loan portfolio of up to $3 billion over multiple years for the insurer.“We see this as the natural evolution of Varagon,” Chief Executive Officer Walter Owens said in an interview. “When you look at the market, direct lenders require large hold sizes and it’s very much in alignment with our strategy of being a direct lead lender of size and scale.”Insurers have been pouring money into private debt in recent years, helping it grow into an $800 billion asset class. Direct loans are typically illiquid, making them appealing to buy-and-hold investors with long time horizons. In a recent survey of managers overseeing nearly $400 billion in private-debt strategies, 80% expected allocations from insurance companies to increase in the coming years.American International Group Inc., which has been an anchor investor in Varagon since 2014, will continue its partnership with the firm and hold an ownership stake the same size as Aflac’s, according to the statement.Read more: How Private Credit Soared to Fuel Private Equity Boom: QuickTakeVaragon, a New York-based lender to companies with $10 million to $75 million in Ebitda, will keep operating as an independent company. The firm will continue to focus on non-cyclical sectors and strong investor protections amid borrower-friendly conditions in credit markets.“By historical norms, we’re in aggressive conditions in terms of pricing and structure, but we see strong opportunity in the middle market,” Owens said. “We’re looking to invest in companies that are market leaders in recession-resilient sectors and have defensible business models supported by attractive cash flow profiles, quality management teams and leading sponsors with strong track records.”The deal is expected to close in the first three months of 2020. Rothschild & Co. served as Aflac’s financial adviser and Debevoise & Plimpton LLP provided legal advice. Wells Fargo & Co. was Varagon’s financial adviser, with Davis Polk & Wardwell LLP as legal adviser. AIG received legal representation from Cadwalader Wickersham & Taft LLP.To contact the reporter on this story: Kelsey Butler in New York at email@example.comTo contact the editors responsible for this story: Natalie Harrison at firstname.lastname@example.org, Claire Boston, Adam CataldoFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
The Morningstar US Financial Services Index has outperformed the Morningstar US Market Index in the fourth quarter, up 9.6% compared with 9.0%, and year to date, up 33% compared with 31% (Exhibit 1) as of Dec. 31. The median North America-based financial-services stock trades at about a 2% premium to its fair value estimate, so we consider the North American financial sector slightly overvalued. This is in contrast to a year ago, when many financial-services stocks were undervalued by more than 15%.
The years since the financial crisis have shown that American International Group AIG would have destroyed substantial value even if it had never written a single credit default swap, had noncore businesses it needed to shed, or had material issues in its core operations that it needed to address. The process will take time, but Duperreault promised to return AIG to underwriting profitability in 2019 and is on track to achieve this goal. While AIG's history highlights how reserve development problems can be annoyingly persistent, and the company took another $800 million slug of adverse development in the third quarter of 2017, we believe AIG can move past this issue, given Duperreault's record of building a successful underwriting culture at AIG's closest peer.
Teladoc Health (NYSE:TDOC) continued rewarding investors with the stock uptrend in the last quarter. And for good reason, too. The company posted strong third-quarter top-line results and raised its guidance. Markets view the multinational telemedicine and virtual healthcare supplier as both part healthcare and part technology. By utilizing artificial intelligence and analytics and licensing its platform services, this scalable company touched all-time highs recently. The stock may forge new highs if it raises its guidance yet again.Source: Piotr Swat / Shutterstock.com In the third quarter, Teladoc reported revenue of $138 million, up 24% from last year. Revenue growth was lifted by global subscription access fees of $119.1 million. This accounted for 86% of its total revenue. It lost 28 cents a share, which is not a concern because the company is building its sales levels and taking market share first. The company forecast Q4 revenue in the range between $149 million and $153 million.For full-year 2019, revenue will be $546 million to $550 million. This is up from its previous guidance of $538 million to $545 million. Teladoc expects total visits topping up to 4.1 million.InvestorPlace - Stock Market News, Stock Advice & Trading TipsVisits rose 45% from last year to 928,000. And utilization rates came in just under 8%, up 17 basis points year-over-year. Strong TailwindsTeladoc benefited from the greatest population expansion in the company's history. When over 17 million people gained access to Teladoc, it lifted total visits and revenue. More importantly, TDOC stock rose because investors expect the company to further entrench its distribution channels. Management added UnitedHealth (NYSE:UNH) to its platform. That netted 15 million commercial members and gives UNH a fully integrated virtual care offering to its customers. * 5 Large-Cap Dividend Stocks to Buy Teladoc proved it can deliver on a product rollout without any project delays. Its initial launch went through without any issues. The teams at Teladoc and UNH proved they can collaborate successfully. This may lead to more collaborative projects for Teladoc in the future, further expanding its population expansion.In the last quarter, the company saw request for proposal volumes jump 25% year-over-year. This implies product orders will continue increasing as client interest strengthens. Bookings rose around 30% and along with deal sizes increasing, Teladoc is on a positive trajectory. Global GrowthTeladoc launched in the United Kingdom and introduced the market to its first virtual mental health service. It counted on American International Group (NYSE:AIG) for the launch. In Canada, Great-West Life added the Mental Health Navigator service. In the U.S., companies like UPS (NYSE:UPS) and Nationwide Insurance chose Teladoc to give over 100,000 employees access to medical experts. So, the Teladoc medical expert service, which is a virtual center of excellence, should improve health support for those who need it.2020 will benefit from accelerating revenue growth, as management forecasts long-term annual revenue growth between 20% and 30%. And thanks to the customer base getting bigger annually and clients coming from a variety of global locations, TDOC stock deserves richer premiums. Price Target And My TakeawayNine of the 14 analysts who cover Teladoc stock rank it as a "buy." Their average price target is $85.07. Conversely, the cautious investor may forecast a downside scenario in which revenue growth stalls. Assume that the perpetuity growth rate is 4% and revenue growth falls to 30% annually. In this case, TDOC stock is worth $70.For now, Teladoc investors need not expect growth slowing. The company is gaining momentum and winning bigger contract deals. This will support its historical sales growth rates, sending the stock higher.As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Large-Cap Dividend Stocks to Buy * 3 of the Worst ETFs in 2019 * 7 Biotech Stocks to Buy and Hold in 2020 The post Teladoc Stock Is Poised for More Explosive Growth Ahead appeared first on InvestorPlace.
David Herzog joined DXC in 2017, when the company formed from a spin-off of Hewlett-Packard’s enterprise services business and a merger with Computer Sciences Corp.
The AIG Travel Assistance App has been upgraded with a significant new feature through a partnership with GeoSure, developer of the most granular, real-time safety measurement platform available. The app, available for both iOS and Android, now provides business travelers who are insured through a group AIG business travel policy with access to hyper-local safety awareness functionality for more than 65,000 cities and neighborhoods.
Zaffino, AIG's global chief operating officer and chief of its general insurance business, will continue to serve in those roles when he becomes president on Jan. 1, 2020, AIG said. Zaffino joined AIG as COO in 2017 from insurance broker March LLC where he was CEO. Duperreault, who took helm of AIG that same year, handpicked Zaffino to work alongside him in an effort to turn the company around.
American International Group, Inc. (NYSE: AIG) today announced that Peter S. Zaffino has been named President of AIG, effective January 1, 2020. Mr. Zaffino will continue to serve as Global Chief Operating Officer of AIG and Chief Executive Officer of General Insurance.
American International Group, Inc. (NYSE: AIG) today announced that in accordance with the terms of the outstanding warrants (CUSIP number 026874156) (the "Warrants") to purchase shares of AIG Common Stock, par value $2.50 per share, the Warrant exercise price will be reduced to $42.9413 per share from $43.0865 per share and the number of shares of AIG Common Stock receivable upon Warrant exercise will increase to 1.050 from 1.046. Each of these adjustments will be effective at the close of business on December 12, 2019. Any Warrant exercised on or prior to December 12, 2019 will not be entitled to these adjustments.
American International Group, Inc. (NYSE: AIG) announced today that its Board of Directors has adopted Amendment No. 3 to AIG’s Tax Asset Protection Plan (the Plan). The Plan, which is designed to protect AIG’s substantial tax assets, was scheduled to expire on December 14, 2019. Amendment No. 3 to the Plan extends the expiration date of the Plan to December 11, 2022 (subject to other earlier termination events as described in the Plan) and makes minor technical changes to the Plan to remove provisions related to the U.S. Treasury’s ownership of AIG equity interests that are no longer applicable since the U.S. Treasury no longer holds any equity interests in AIG.
American International Group, Inc. today announced that Brian Duperreault, AIG’s President and Chief Executive Officer; Peter Zaffino, AIG’s Global Chief Operating Officer and Chief Executive Officer, General Insurance; and Mark Lyons, AIG’s Chief Financial Officer, will participate in a fireside chat at the Goldman Sachs U.S.
American International Group (AIG) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]
AM Best has commented that the Long-Term Issuer Credit Rating of “bbb” of American International Group, Inc. , as well as the Financial Strength Ratings and the Long-Term ICRs of its operating subsidiaries are unchanged following AIG’s recent announcement that it plans to sell a majority stake in Fortitude Group Holdings, LLC .