- After an initial pop on the earnings release last night, AIG turns lower by 1% in premarket action as investors look past some big headline numbers, and hone in on continued weakness in property and casualty, where adjusted underwriting results continued to deteriorate.
- "P&C margin deteriorated Q/Q, a disappointing trend," says Barclays' Jay Gelb, cutting his price target to $56 from $60. He still expects share repurchases to accelerate, perhaps reaching $10B by year-end 2015.
- Maintaining his Buy and $59 price target, BofA's Jay Cohen also notes worse-than-expected P&C results.
- "We think disappointing property-casualty results will likely put near-term pressure on the stock," says Janney's Larry Greenberg, maintaining his Neutral rating.
- Previous earnings coverage
- CC begins in 5 minutes
Weak P&C results bubble up at AIG
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Symbol | Last Price | % Chg |
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AIG | - | - |
American International Group, Inc. |