Investment company Independence Advisors, LLC buys CoStar Group Inc, Dollar General Corp, Raytheon Co, Broadridge Financial Solutions Inc, Procter & Gamble Co, American States Water Co, Proto Labs Inc, Bank of New York Mellon Corp, Facebook Inc, Snap-on Inc, sells Vanguard Value ETF – DNQ, Vanguard Growth ETF – DNQ, iShares Russell 1000 Growth, iShares MSCI EAFE, Vanguard Intermediate-Term Bond during the 3-months ended 2017-06-30, according to the most recent filings of the investment company, Independence Advisors, LLC. As of 2017-06-30, Independence Advisors, LLC owns 64 stocks with a total value of $196 million. These are the details of the buys and sells.
New Purchases: CSGP, DG, RTN, BR, PG, AWR, PRLB, BK, FB, SNA, Added Positions: RPM, MMM, Reduced Positions: RAI, FRBK, Sold Out: VTV, VUG, IWF, EFA, BIV, IWD, IVW, SUB, VEA, EFV,
For the details of Independence Advisors, LLC’s stock buys and sells, go to www.gurufocus.com/StockBuy.php?GuruName=Independence+Advisors%2C+LLC
Top 5 Financial Stocks For 2018: American International Group Inc.(AIG)
Advisors’ Opinion:
- [By Ben Levisohn]
BMO’s Charles Sebaski explains why he upgraded American International Group (AIG) to Outperform from market Perform:
Agence France-Presse/Getty Images
AIG has been trading at discount to its tangible book given its mid-single digit return profile; however, we expect AIGs valuation to keep increasing with its improving return profile. We are now forecasting AIG to generate a 9.9% operating return on tangible common equity (ROtE) in 2018, which would be a 450 bp improvement from 2016. A double-digit return profile warrants the 1x multiple that we are applying to its tangible book value per share. While we expect AIGs return profile to benefit from lower taxes, we also expect the companys life and retirement business to improve from the rising interest rates as those spread businesses are more interest rate sensitive than the P&C business. That said, we expect continued improvement on both the loss and expense sides of the P&C as contributing factors to the ROtE improve.
BMO also upgraded Arch Capital Group (ACGL), Brown & Brown (BRO), and Travelers (TRV).
Shares of American International Group have declined 0.4% to $65.60 at 3:36 p.m. today, whileArch Capital Group has gained 2% to $87.90,Brown & Brown has advanced 0.5% to $44.65, andTravelers has risen 1.3% to $120.79.
- [By Ben Levisohn]
American International Group (AIG) tumbled to the bottom of the S&P 500 today after its earnings fell well short of the Street consensus.
Agence France-Presse/Getty Images
AIG dropped 8.9% to $60.85 today, while the S&P 500 gained 0.5% to 2,349.25.
Yes, AIG’s earnings were bad. It reported an operating loss of $2.72 a share, missing forecasts for a profit of 42 cents, according to Bloomberg. And it didn’t help that John Paulson’s Paulson & Co. cut its stake in the insurer.
You’ll notice the forecast is different than what it was in my earlier post on AIG–and an AIG spokesperson even reached out to tell me that the consensus, at least according to FactSet, should had been for a loss of 61 cents a share. Why the confusion? RBC’s Mark Dwelle and Scott Heleniak have your answer:
In reporting results AIG has recast all of its business segments, transferring various pieces to a Legacy unit, reallocating corporate expenses and net investment income as well as making some changes as to what is included within operating income, the most notable of which is that loss reserve discount effects in U.S. Commercial Insurance (and the Legacy unit) are now excluded from Operating Income. Accordingly, comparisons to prior reported results, and to some extent our 4Q16 estimates, require some reconciliation.
Macquarie’sAmit Kumar considers the bull and bear cases on AIG:
On 2/14, after market close, AIG reported a Q4 operating loss of $2.72 per share vs. our estimate of a $0.52 loss and street consensus of a $0.54 loss. Results are not directly comparable to street consensus due to lack of unanimity in terms of reserve adjustment estimates. Results included a higher than estimated $5.6 billion or $3.56/share of adverse development. The company had previously announced the possibility of a material reserve charge in the quarter. The bulls on the stock would note that this quar
- [By Dan Caplinger]
Wednesday was yet another record-setting day for the stock market, as the Dow climbed triple digits and the S&P 500 and Nasdaq Composite followed the venerable average to unprecedented heights. Economic data showing rising inflation made it more likely that the Federal Reserve will look to boost interest rates at its next Federal Open Market Committee meeting next month, and the ripples throughout the bond market sent many investors to consider stocks instead. Yet despite the substantial rally, some stocks missed out on the move higher, and American International Group (NYSE:AIG), Teck Resources (NYSE:TECK), and Movado Group (NYSE:MOV) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.
- [By Ben Levisohn]
Heading into its earnings following the close of trading yesterday, shares of American International Group (AIG) had gained 34% from its low on Jun. 28 to Feb. 14. Then the bottom fell out.
Top 5 Financial Stocks For 2018: BofI Holding Inc.(BOFI)
Advisors’ Opinion:
- [By Matthew Frankel]
Internet-based bank holding company BofI Holding (NASDAQ:BOFI) is not like most other banks. Since the name BofI stands for “Bank of Internet,” one thing that obviously makes the bank unique is its online-only business model. However, there are a lot of less-obvious things about BofI Holding that you might find interesting.
- [By Jason Hall]
Internet bank holding companyBofI Holding, Inc.(NASDAQ:BOFI) reported financial and operating results on April 25 after market close, with net income of $41 million — the most-ever in a single quarter in its history. BofI delivered strong growth in net interest income, book value, loan originations, and a number of other key metrics.
- [By Matthew Frankel]
3. BofI Holding (NASDAQ:BOFI) is a more speculative choice, but one that deserves serious consideration. The bank, whose name stands for “Bank of Internet”, is the oldest internet-only bank in the U.S. By maintaining an online-based business model, the bank enjoys competitive advantage such as low overhead and the ability to offer better rates on loan and deposit products than peers.
Top 5 Financial Stocks For 2018: Aon Corporation(AON)
Advisors’ Opinion:
- [By WWW.THESTREET.COM]
We’re seeing the exact same price pattern playing out in shares of $29 billion risk and insurance consultancy firm Aon plc (AON) . Aon has been a strong performer for all of 2016, up 20% since the calendar flipped to January. But don’t worry if you’ve missed the move – an ascending triangle pattern is signaling a second leg higher here. For Aon, the breakout level to watch is resistance up at $113.
Top 5 Financial Stocks For 2018: SL Green Realty Corporation(SLG)
Advisors’ Opinion:
- [By Nelson Hem]
“Manhattan on Sale? That’s the Case With Two Cheap REITS” by Andrew Bary discusses whether Manhattan-focused real estate investment trusts Vornado Realty Trust (NYSE: VNO) and SL Green Realty Corp (NYSE: SLG) could rally as the New York market firms. Both trade at a discount to the value of private-market property deals, says the article.
Top 5 Financial Stocks For 2018: Swedish Export Credit Corp (GRU)
Advisors’ Opinion:
- [By Casey Wilson]
Investing in commodity-based ETFs (exchange-traded funds) or ETNs (exchange-traded notes) is a great way to gain exposure to a specific commodity, like corn (NYSE Arca: CORN), livestock (NYSE Arca: COW), or grains (NYSE Arca: GRU).
