56.32 0.00 (0.00%)
Pre-Market: 8:54AM EDT
|Bid||55.29 x 800|
|Ask||0.00 x 900|
|Day's Range||55.93 - 56.68|
|52 Week Range||36.16 - 57.59|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||1.28 (2.26%)|
|1y Target Est||59.69|
AIG Travel shares results of its latest consumer research, insights for the travel industry HOUSTON , Sept. 17, 2019 /PRNewswire/ -- As American International Group, Inc. (NYSE: AIG) celebrates its centennial ...
American International Group, Inc. (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 $43.0865 per share from $43.1179 per share and the number of shares of AIG Common Stock receivable upon Warrant exercise will increase to 1.046 from 1.045. Each of these adjustments will be effective at the close of business on September 17, 2019. Any Warrant exercised on or prior to September 17, 2019 will not be entitled to these adjustments.
PG&E has reached an $11bn settlement with insurance claimants related to the utility’s role in a series of deadly wildfires that ravaged northern California in 2017 and 2018 and triggered its filing for bankruptcy earlier this year. The settlement was less than the $20bn a group of insurance claimants - including the likes of AIG, Allianz, Allstate, Farmers Insurance Exchange and hedge fund Baupost Group - had sought, prompting some relief for PG&E’s share price, which rose nearly 10 per cent in morning trade on Friday.
American International Group (AIG) closed at $55.41 in the latest trading session, marking a +1.02% move from the prior day.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Validus Holdings, Ltd. New York, September 09, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Validus Holdings, Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
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.
As the $600bn reinsurance industry’s top brass prepare to gather for their annual shindig in Monte Carlo this weekend, they have one eye on the path of Hurricane Dorian up the eastern coast of the US. The lack of large insurance losses this year has been a boon for the industry, but payouts could rise sharply if the biggest storm of this year’s hurricane season makes landfall in the US. The prices that the likes of Swiss Re, Munich Re and Warren Buffett’s Berkshire Hathaway can charge their customers had been falling for years as the era of low interest rates drove money — and hence fresh capacity — into the industry.
Stephanie Link said on CNBC's "Fast Money Halftime Report" that American International Group Inc (NYSE: AIG) had a good quarter, but the stock is trading lower because of the macro environment. Jim Lebenthal would be comfortable to add to a long position in Marathon Petroleum Corp (NYSE: MPC). The company is also buying back shares and Lebenthal thinks Marathon Petroleum is a great stock to buy both on fundamentals and valuation.
American International Group, Inc. (AIG) today announced it has appointed Duncan Ellis as Head of Retail Property, North America General Insurance. Mr. Ellis will lead General Insurance’s North American Retail Property business and focus on diversifying the company’s Property portfolio and implementing consistent underwriting practices in the U.S., Bermuda and Canada that are aligned with AIG’s overall risk appetite.
After writing about American International Group earlier today, I thought about looking at the charts of Everest Re Group, Ltd. , and I found a similar weak pattern on their charts. In this daily bar chart of RE, below, we can see that prices have rolled over since early May. Prices were bouncing off of a "neckline" around $242 but that tentative support has given way and RE is testing the rising 200-day moving average line. The On-Balance-Volume (OBV) line made its high in May and its subsequent decline the past four months tells me that sellers have been more aggressive.
Bruce Gendelman wanted a mountainside retreat when he bought 12 acres in Aspen, Colorado. "It's a very high-end home and we're dealing with very good contractors," Gendelman said. Fires, floods, hurricanes and other catastrophes have cost https://tmsnrt.rs/2Zq5hUs U.S. insurers more than $170 billion in property losses since 2016, according to Property Claim Services (PCS), part of Verisk Analytics Inc, and the U.S. Bureau of Economic Analysis.
American International Group Inc. has been testing the $52 level the past three months. In the daily bar chart of AIG, below, we can see that prices made a low in December with the broader market. The daily On-Balance-Volume (OBV) line shows a rise from December to late May confirming the price advance but the line has been mostly flat the past three months, which is a bearish divergence when compared to prices making new highs in July.
American International Group, Inc. announced today that Brian Duperreault, AIG’s President and Chief Executive Officer, will present at the Barclays Global Financial Services Conference on Wednesday, September 11, 2019 at 9:00 a.m.
American International Group, Inc. announced today that Peter Zaffino, AIG’s Global Chief Operating Officer and Chief Executive Officer, General Insurance, will present at the KBW Insurance Conference on Wednesday, September 4, 2019 at 10:15 a.m.
American International Group, Inc. (AIG) today announced that Sabra Purtill will join the company in a newly established role as Deputy CFO, Head of Treasury, Investor & Rating Agency Relations, and Corporate Development, effective August 28. Ms. Purtill will be based in New York and report to Mark Lyons, AIG’s Executive Vice President and Chief Financial Officer. Sabra will oversee AIG’s engagement with key financial stakeholders, including ratings agencies and the investor community, in a coordinated and consistent way that supports business objectives.
General Electric (NYSE:GE) stock price plunged more than 11% yesterday after forensic accountant Harry Markopolos issued a report accusing the conglomerate of massive accounting fraud and predicted that it could go bankrupt soon. GE stock price is climbing 6.5% today but remains about 20% below its July 24 levels.Source: JPstock / Shutterstock.com Known for reporting Bernie Madoff's Ponzi scheme to the federal government years before Madoff was caught, Markopolos' has earned some credibility with The Street.Yet, for multiple reasons, including Markopolos' history and recent conduct, I'm very skeptical about his conclusions. For these reasons, I recommend that risk-tolerant investors buy General Electric stock on weakness.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Markopolos Can Make Money if the Street Believes His StoryAccording to CNBC, Markopolos said that a mid-sized, U.S.-based hedge fund had agreed to give him "a decent percentage of profits" that it would earn by betting on the decline of GE stock. * 10 Cheap Dividend Stocks to Load Up On Let's say that the hedge fund bet $100 million against GE stock, and that it, using put options, made $50 million on the trade. Let's say that Markopolos' percentage was 20%. He would then of course earn $10 million on the deal. That's a pretty high sum for putting together a report and appearing on a few TV shows.And, if Markopolos' report had not been negative enough to push GE stock price down, it appears he would earn nothing on the deal. So, I'd say calling him pretty biased when it comes to GE stock would be a huge understatement.My confidence in the accountant isn't increased by his refusal to name the hedge fund that's paying him or the exact percentage of their profit he's getting. And in my opinion his statement that his report was "self-funded" could make some people mistakenly believe that he has no profit motive in this case. As somebody who scathingly criticized GE for a lack of transparency, Markopolos' own lack of transparency is puzzling and disappointing. Markopolos' Past Prophecies Haven't Come TrueMarkopolos, of course, was spot on about Madoff, but his warnings about insurance companies haven't been nearly as prophetic. As CNBC noted, his case centers around GE's long-term care insurance unit.Interestingly, in an interview published by Business Insider in November 2016, Markopolos alleged that all sorts of fraud was rampant across the insurance sector."I have some large insurance fraud cases that I'm going to make public in 2017. And they're going to be in the tens of billions of dollars each. … Basically the insurance industry is where the banking industry was in 2007," he told Business Insider. But over two years later, I can't find any references to insurance fraud exposed by Markopolos. Does anybody else hear a wolf? America Doesn't Crack Down Hard on Illegal Conduct by CompaniesIn his report, Markopolos compared GE to two of the very few large American companies that collapsed due to illegal conduct: Enron and WorldCom.But the reality is that the vast majority of large firms that violate the law do survive, and many thrive. For example, American International Group (NYSE:AIG), Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) were charged with committing fraud during the financial crisis. Toshiba (OTCMKTS:TOSBF) had its own accounting scandal in 2015. They all managed to survive and thrive since then. More recently, Wells Fargo (NYSE:WFC) has admitted to various fraudulent actions. Multiple hospital-chain owners have admitted to Medicare fraud. None of them have gone out of business, either. So even if GE did commit fraud or break laws, the chances of it disappearing are pretty low. Most of GE's Problems Involve a SubsidiaryAs CNBC pointed out, most of Markopolos' allegations of insolvency and lack of liquidity relate to GE's long-term insurance business. He identifies Employers Reassurance Corporation as the source of much of the debt he says GE owes.But ERAC is a subsidiary of GE, rather than part of the company itself. Interestingly, earlier this year, another GE subsidiary, sub-prime lender WMC Mortgage, went bankrupt. Although I'm not a legal or financial expert, I do think it's fair to wonder why GE cannot get rid of most of its debt stemming from ERAC by simply having the unit declare bankruptcy. Apparently, bankruptcies by insurers are not unheard of or illegal. Why Would Culp Join a Corrupt Company?General Electric CEO Larry Culp is in an altogether different situation than the CEOs of Enron and WorldCom were. In the latter two cases, the long-time heads of the companies were involved in fraud for years.Culp, by contrast, just joined GE at the end of last year. At that point, Markopolos alleges that GE had already started their fraudulent practices. By all accounts, Culp was tremendously respected for the turnaround he engineered while he was CEO of Danaher (NYSE:DHR).If Markopolos' accusations are true, Culp either did not examine GE's financial situation prior to taking the job, didn't understand its financial situation or knew that it was about to crash but, for some reason, didn't care about wrecking his sterling managerial reputation. None of those scenarios seems very likely. General Electric Stock's Fundamentals Are StrengtheningDespite the bears' insistence that GE stock is doomed and its fundamentals are collapsing, there are concrete signs that the company's fundamentals are improving or are poised to improve.The oracle of the GE stock bears, JPMorgan analyst Stephen Tusa, reported that GE's second quarter was an operational miss and that the company's fundamentals had worsened.But, as I pointed out in a previous column, the gas power segment of GE's Power unit jumped 27% in the first half of the year, and the company's overall backlog jumped 11% year-over-year. Culp reported that GE Power would benefit from positive trends going forward, including strong demand for natural gas in Asia. Moreover, despite temporary problems, the company's Aviation unit received a record $55 billion of orders at the Paris Air Show in June.Meanwhile, Greentech reported earlier this month that U.S. wind energy development accelerated in the second quarter, which should boost GE's renewable energy unit. Additionally, New York and New Jersey are going all-in on offshore wind, which also bodes well for GE.Finally, Caterpillar (NYSE:CAT) reported that the orders of its power business surged 17% year-over-year. Woodward (NASDAQ:WWD), which sells parts to GE, said that its gas turbine business is improving. And Barclays analysts reported that U.S. power turbine orders jumped more than 12% year-over-year.Based on all of those numbers and fundamental catalysts, I really can't see how Tusa can state with confidence that GE's fundamentals are worse. I also am not very confident at all about Markopolos' charges, so I would recommend buying GE stock on weakness.As of this writing, Larry Ramer was long GE. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Investors Should Buy General Electric Stock on Its Latest Decline appeared first on InvestorPlace.
Activision Blizzard Inc. has a new chief people officer. The Santa Monica, California, game company has appointed Claudine Naughton to the role, succeeding Brian Stolz, who will assume a newly created role as senior advisor. In her new post, Naughton will lead global human resources for the company behind such franchises as “Call of Duty,” “Candy Crush,” “Hearthstone,” “Overwatch” and “World of Warcraft.” She will be based in Santa Monica and report to Activision Blizzard (NASDAQ: ATVI) CEO Bobby Kotick.
American International Group, Inc. (AIG) today announced that Richard Olsen will join the company as Chief Actuary, General Insurance, effective immediately. Mr. Olsen will be based in New York and will report to Mark Lyons, Executive Vice President & Chief Financial Offer, AIG. Mr. Olsen will lead the General Insurance global actuarial organization, with responsibility for aligning pricing, portfolio and reserving practices with AIG’s business objective of improving underwriting profitability, as well as providing guidance on portfolio optimization to help inform General Insurance strategy.