NEW YORK, September 8, 2016 /PRNewswire/ --
Property and Casualty Insurance companies cover risks related to loss or damage of properties such as houses, cars, and other valuable personal assets. As per a 2016 outlook report by EY on the US Property and Casualty Insurance sector, 2016 will be a year of ongoing disruptive changes for the industry. Stock-Callers.com looks at how the following equities have fared over the last few trading sessions: MGIC Investment Corp. (NYSE: MTG), American International Group Inc. (NYSE: AIG), Berkshire Hathaway Inc. (NYSE: BRK-B), and Radian Group Inc. (NYSE: RDN). Learn more about these stocks by accessing their free research reports at:
On Wednesday, shares in Milwaukee, Wisconsin headquartered MGIC Investment Corp. recorded a trading volume of 3.65 million shares. The stock ended the session 1.74% higher at $8.18. The Company's shares have gained 9.65% in the last one month and 21.73% in the previous three months. The stock is trading 15.38% above its 50-day moving average and 11.16% above its 200-day moving average. Moreover, 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 a Relative Strength Index (RSI) of 72.71.
As per the Company's filing with SEC, on August 5th, 2016, MGIC Investment completed its public offering of $425,000,000 aggregate principal amount of its 5.750% senior notes due 2023. The Notes are the Company's unsecured senior obligations. The Notes will pay interest semi-annually on February 15th and August 15th of each year at a rate of 5.750% per year, and will mature on August 15th, 2023. Free research report on MTG is available at:
American Intl. Group
New York-based American International Group Inc.'s stock closed the day 0.13% lower at $59.37 with a total trading volume of 4.47 million shares. The Company's shares have advanced 4.89% in the previous three months. The stock is trading 5.81% above its 50-day moving average and 6.48% above its 200-day moving average. Additionally, 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 an RSI of 63.70.
On August 11th, 2016, research firm Deutsche Bank reiterated its 'Hold' rating on the Company's stock with an increase of the target price from $59 a share to $61 a share.
On September 3rd, 2016, Reuters reported that American International Group is seeking to raise about $190 million by selling its remaining shares in China's PICC Property and Casualty Co. As per the article, AIG is offering 111 million shares at a floor price of HK$13.39 each, representing 0.5% discount to PICC Property and Casualty's last traded price. AIG has been steadily selling down its stake in PICC over the past two years and has raised about $2.6 billion prior to Saturday's trade. The complimentary research report on AIG can be downloaded at:
Shares in Omaha, Nebraska-based Berkshire Hathaway Inc. recorded a trading volume of 2.43 million shares. The stock ended yesterday's trading session 0.57% lower at $149.58. The Company's shares have advanced 2.76% in the past month, 4.95% over the previous three months, and 13.28% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 2.51% and 7.42%, respectively. 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 59.91.
On August 5th, 2016, Berkshire Hathaway reported net income of $5 billion for the three months ended on June 30th, 2016, which was higher from net income of $4.01 billion in Q2 2015. Operating profit rose 18% to $4.61 billion from $3.89 billion in the year ago period. Visit us today and access our complete research report on BRK-B at:
Philadelphia, Pennsylvania headquartered Radian Group Inc.'s stock finished Wednesday's session 0.65% higher at $13.92 with a total trading volume of 1.60 million shares. The Company's shares have advanced 7.10% in the last one month, 17.99% over the previous three months, and 4.04% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 12.40% and 14.84%, 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 72.50.
On August 25th, 2016, Radian Group announced the appointment of Jeff Tennyson as president of Clayton Holdings LLC, Radian's principal mortgage and real estate services business. Tennyson has served as interim president of Clayton since March 2016, with responsibility for the overall operating results of Clayton's business lines. Get free access to your research report on RDN at:
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