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Fly News Breaks for February 15, 2019
AIG
Feb 15, 2019 | 07:22 EDT
Argus analyst Jacob Kilstein downgraded AIG to Hold after its latest Q4 earnings miss driven by "catastrophe losses, large reserve charges, and poor investment results", saying the stock is consistently underperforming. The analyst believes that the company will continue to deal with "restructuring charges and higher-than-normal catastrophe losses", adding that while its price to book ratio of 0.6-times implies a discount to the peer industry average of 1.6-times, it is justified by its "below-average ROE and quarterly losses."
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