Waves of Selling Hits AIG
Tweet
Share
E-mailGet Alerts AIG Hot Sheet
Price: $76.78 +0.85%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.5%
EPS Growth %: -17.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.5%
EPS Growth %: -17.3%
Join SI Premium – FREE
Selling pressure in American International Group, Inc. (NYSE: AIG) has significantly accelerated. Shares are now down nearly 11.5% following this morning negative report from analysts at Sanford Bernstein.
The firm cut their price target on AIG to $12 from $20 after a loss reserve analysis. The firm said their segmented industry loss reserve analysis revealed a very unexpected result that could have major ramifications in coming year. They said it appears that AIG's loss reserves are significantly deficient again, much sooner that they would have forecast 2 years ago.
The firm continues to rate AIG underperform.
More on Sanford Bernstein's research report on AIG.
The firm cut their price target on AIG to $12 from $20 after a loss reserve analysis. The firm said their segmented industry loss reserve analysis revealed a very unexpected result that could have major ramifications in coming year. They said it appears that AIG's loss reserves are significantly deficient again, much sooner that they would have forecast 2 years ago.
The firm continues to rate AIG underperform.
More on Sanford Bernstein's research report on AIG.
You May Also Be Interested In
- Exclusive: PayPal cuts 220 jobs in India, 160 in Ireland
- AIG Announces Board Leadership Transition
- AIG board names John Rice as chair, Zaffino moves to advisor
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkRelated Entities
Sanford C. BernsteinSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
