NEW YORK, October 19, 2016 /PRNewswire/ --
The Property and Casualty Insurance industry continues to suffer from sluggish demand due to a slowdown in economic activity. According to reinsurance specialist Guy Carpenter, global catastrophe reinsurance prices dropped this year below levels last seen in 2001. Today, Stock-Callers.com reviews the performances of American International Group Inc. (NYSE: AIG), MGIC Investment Corp. (NYSE: MTG), Berkshire Hathaway Inc. (NYSE: BRK.B), and Radian Group Inc. (NYSE: RDN). Download the free research reports on these stocks today: http://stock-callers.com/registration
American Intl. Group
Shares in New York-based American International Group Inc. ended Tuesday's session at $60.49, up 0.33% from the previous session. The stock recorded a trading volume of 4.03 million shares. The Company's shares have gained 4.58% in the last one month and 11.45% in the previous three months. The stock is trading 2.58% above its 50-day moving average and 9.56% above its 200-day moving average. Moreover, shares of American International Group, which provides insurance products and services for commercial, institutional, and individual customers in the Americas, the Asia/Pacific, Europe, the Middle East, and Africa, have a Relative Strength Index (RSI) of 59.95.
On October 07th, 2016, research firm Credit Suisse initiated a 'Neutral' rating on the Company's stock, issuing a target price of $60 per share.
On October 18th, 2016, the company announced that it has entered into several agreements with Fairfax Financial Holdings Limited. As part of these agreements, AIG will sell to Fairfax its local commercial and consumer insurance operations in Argentina, Chile, Colombia, Uruguay, Venezuela, and Turkey. Fairfax will also acquire renewal rights for the portfolio of local business written by AIG's Central and Eastern European (CEE) operations in Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia, and assume AIG's CEE operating assets and employees. Total cash consideration is approximately $240 million. See our free and comprehensive research report on AIG at: http://stock-callers.com/registration/?symbol=AIG
Milwaukee, Wisconsin headquartered MGIC Investment Corp.'s stock jumped 5.11%, closing the day at $8.44. A total volume of 11.69 million shares was traded, which was above their three months average volume of 4.99 million shares. The Company's shares have advanced 5.24% in the last month and 23.39% over the previous three months. The stock is trading 6.36% above its 50-day moving average and 17.49% above its 200-day moving average. Additionally, shares of MGIC Investment, which through its subsidiaries, provides private mortgage insurance and ancillary services to lenders and government sponsored entities in the US, have an RSI of 68.66.
On October 17th, 2016, research firm Bank of America/ Merrill initiated a 'Buy' rating on the Company's stock.
On October 18th, 2016, MGIC Investment reported that net income for Q3 2016 was $56.6 million, or $0.14 per diluted share, compared to net income of $822.9 million, or $1.78 per diluted share, in Q3 2015. Net income in Q3 2015 included $739.3 million associated with the change in the company's deferred tax asset valuation allowance. Total revenues for Q3 2016 were $273.9 million compared to $269.5 million in Q3 2015. MTG free research report PDF is just a click away at: http://stock-callers.com/registration/?symbol=MTG
On Tuesday, shares in Omaha, Nebraska-based Berkshire Hathaway Inc. recorded a trading volume of 2.38 million shares and ended the day 0.35% higher at $144.30. The stock has gained 9.29% on an YTD basis. The Company's shares are trading above their 200-day moving average by 2.41%. Furthermore, shares of Berkshire Hathaway, which through its subsidiaries, primarily engages in the insurance and reinsurance of property and casualty risks business, have an RSI of 46.63.
On October 06th, 2016, Berkshire Hathaway Specialty Insurance Co., a subsidiary of Berkshire Hathaway, announced that it has received a license to provide insurance and reinsurance in Macau and filled key positions in its newly established Macau office. Sign up for your complimentary report on BRK-B at: http://stock-callers.com/registration/?symbol=BRK-B
Philadelphia, Pennsylvania headquartered Radian Group Inc.'s stock rose 3.88%, finishing yesterday's session at $14.47. A total volume of 2.95 million shares was traded, which was higher than their three months average volume of 2.17 million shares. The Company's shares have advanced 6.79% in the last one month, 20.51% in the previous three months, and 8.15% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 6.90% and 19.68%, respectively. Additionally, shares of Radian Group, which through its subsidiaries, provides mortgage and real estate products and services in the US, have an RSI of 70.62.
On October 17th, 2016, Radian announced that it will hold a conference call on October 27th, 2016, at 10:00 a.m. ET to discuss its Q3 2016 results, which will be announced prior to the market open on the same day.
On October 17th, 2016, research firm Bank of America/ Merrill initiated a 'Buy' rating on the Company's stock. Register for free on Stock-Callers.com and download the latest research report on RDN at: http://stock-callers.com/registration/?symbol=RDN
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