Guggenheim initiates coverage across insurance industry


ACE, AmTrust Financial (AFSI), AllState (ALL), AON, Meadowbrook (MIG), Marsh & McLennan (MMC) are all started at Buy, while Argo Group (AGII), AIG, Maiden Holdings (MHLD), Travelers (TRV), Tower Group (TWGP), and XL Group (XL) are initiated at Hold.

Tower Group plummets 27% after further delaying the release of financial statements until the week of October 7, and FBR speculates the reserve charge could be as high as $125M.

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Comments (2)
  • kevn1111
    , contributor
    Comments (266) | Send Message
     
    What a big dumas, that Guggenheim...

     

    AIG - debt will be going down with ILFC IPO. Price is well below BV (although will likely drop $.50-$2.00 due to interest rate increases). Earnings increasing. Interest rate increasing, thus able to invest in higher rate investments. Guggenheim is being very narrow minded and has not truly vetted out AIG. Too bad. My 12-mo target is $65 or +30%, with upside to $75 or +50%. Lets see who wins this analysis Guggenheim...care to wager mr dumas.
    18 Sep 2013, 12:44 PM Reply Like
  • telemark
    , contributor
    Comment (1) | Send Message
     
    I won't bet against you on this one. People still are POed for getting burned. They will probably jump in at $65!!! (smile)
    18 Sep 2013, 01:32 PM Reply Like
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