Shares of American International Group, Inc. (NYSE:AIG) [Detail Analytic Report] slightly down in pre session on Thursday as it reported that a lesser than anticipated profit for the third straight quarter as poor returns from hedge funds hurt its investment income. AIG has been scaling back investments in hedge funds, which have borne the brunt of excessive market volatility in the past year. Big-name hedge funds favored by pension funds and the ultra-wealthy for their track record of stellar returns took a battering in the first quarter of 2016, with some posting their worst ever start to a year on record.
AIG’s weak results come at a time when the company is facing the possibility of having to set aside more capital as regulators worry about financial firms deemed “too big to fail”. The operating profit attributable to AIG fell 54 percent to $773 million in the first quarter, partly due to restructuring costs of $122 million.
Noting a main crunch of analyst research by WSJ, AIG under observation of quarterly per share earnings, it has second quarter 2016 trend of $1.18, while in next quarter estimated EPS trend is $1.21 and for annual basis for 2016 estimated EPS is $4.62.
Relatively pool of WSJ analyst issues diverse rating, as for current level it has 13 experts rated as “BUY” security, 2 analyst recommend as “Overweight,” and 9 experts rated as “Hold”.
One of The Goldman Sachs Group, Inc.’s (NYSE:GS) [Detail Analytic Report] most senior mergers and acquisitions bankers in Asia, Richard Campbell-Breeden has relocated to London after almost eight years in Hong Kong. The chairman of the M&A group in Asia Pacific excluding Japan, Campbell-Breeden will focus on senior client coverage in Europe, the Middle East and Africa, according to Sebastian Howell, a spokesman for the bank in London. The banker, who has been with Goldman Sachs for more than 26 years, helped lead M&A in the region since 2008 and was also vice chairman of investment banking.
His move adds to the list of top Asia dealmakers at Goldman Sachs decamping for London. Matthew Westerman, who had been head of investment banking for the Asia Pacific region excluding Japan, and Jonathan Penkin, the firm’s former co-head of the financing group for the region, have both departed Hong Kong for the U.K. capital within the past 12 months.
For current month, 4.28 analysts from pool recommended for an “overweight” rating, while 3.78 gave rating of “Buy” and 17.60 analysts suggest to “Hold” and 13 gave preference to “underweight,” according to research rating by WSJ. While alarming thing to be notice is price target, the average pool price target for GS has been mentioned as; 2 tends to high price target, medium level touched to 2, and 2 was assigned as lowest share price targets. To accommodate all of these, average analyst price target appeared by 10, where as the current price is 10, as per research conducted by WSJ.
The Western Union Company (NYSE:WU) [Detail Analytic Report] reported first-quarter net income of $185.7 million. On a per-share basis, the Englewood, Colorado-based company said it had net income of 37 cents. The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. The money transfer company posted revenue of $1.3 billion in the period, which also missed Street forecasts. Ten analysts surveyed by Zacks expected $1.31 billion. Western Union expects full-year earnings in the range of $1.58 to $1.70 per share.
To narrow down focus on firm’s analytic rating, WU receives a wide range of reviews through technical indicators; experts eagerly produce EPS tends for quartile and annual, for current quarter trends were $1.18 and $1.21 for next quarter. On annual bases, it has $4.62 for FY 2016 Estimate Trends and $5.81 for FY 2017 Estimate Trends.
To neat down this understanding, 17.60 analysts rate it as ‘Holding’ security, at the same time as 3.78 suggests for ‘Buy’ as compare to 3.28 analyst suggested in 3 month ago. To lodge it average analyst gave price target to 1.63, whereas current price stands at 1.63.