[ACCESSWIRE]
Upcoming AWS Coverage on Sun Life Financial Post-Earnings Results
LONDON, UK / ACCESSWIRE / February 17, 2017 / Active Wall St. announces its post-earnings coverage on American International Group, Inc. (NYSE: AIG). The Company disclosed its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year 2016 (FY16) on February 14, 2017. The New York-based Company's net loss attributable to AIG widened during the reported quarter. Register with us now for your free membership at: http://www.activewallst.com/register/.
One of American International Group's competitors within the Property & Casualty Insurance space, Sun Life Financial Inc. (NYSE: SLF), announced on February 02, 2017, that it will release its Q4 2016 financial results on Wednesday, February 15, 2017, after markets close. The Company will hold its earnings conference call and audio webcast at 10:00 a.m. ET the following day. AWS will be initiating a research report on Sun Life Financial in the coming days.
Today, AWS is promoting its earnings coverage on AIG; touching on SLF. Get our free coverage by signing up to:
http://www.activewallst.com/registration-3/?symbol=AIG
http://www.activewallst.com/registration-3/?symbol=SLF
Earnings Reviewed
During the three months ended in December 31, 2016, AIG reported total revenues of $13.01 billion compared to $13.83 billion recorded at the end of Q4 FY15. The Company's pre-tax operating loss widened to $3.09 billion in Q4 FY16 from $2.10 billion in the year ago same quarter.
The multinational insurance corporation reported after-tax operating loss of $2.79 billion, or $2.72 loss per diluted share, in Q4 FY16 compared to after-tax operating loss $1.32 billion, or $1.07 loss per diluted share, in Q4 FY15. For the reported quarter, net loss attributable to AIG was $3.04 billion, or $2.96 loss per diluted share, compared to net loss of $1.84 billion, or $1.50 loss per diluted share, in the prior year comparable quarter.
For full year FY16, AIG's total revenues were $52.37 billion compared to $58.33 billion in FY15. The Company's pre-tax operating income during FY16 came in at $1.42 billion versus $3.98 billion in FY15. Furthermore, net loss attributable to AIG for FY16 stood at $849 million, or $0.78 loss per diluted share, against net income of $2.20 billion, or $1.65 per diluted share, in FY15.
Operating Metrics
In Q4 FY16, the Company's provided negative return on equity (ROE) of 14.7% compared to a negative ROE of 7.8% in Q4 FY15. Additionally, AIG's normalized ROE for Q4 FY16 was 4.8% compared to 6.6% in Q4 FY15. The Company's book value per share increased 2.1% y-o-y to stand at $76.66 as on December 31, 2016. Furthermore, adjusted book value per common share stood at $58.57 as on December 31, 2016, versus $58.94 as on December 31, 2015.
Segment performance
Commercial Insurance
The Company's Commercial Insurance segment's net premiums written fell to $3.70 billion in Q4 FY16 from $4.64 billion in Q4 FY15. Furthermore, the segment's pre-tax operating loss widened during Q4 FY16 to $5.02 billion from $2.43 billion in Q4 FY15.
Consumer Insurance
In Q4 FY16, Consumer Insurance segment's operating revenues increased to $6.02 billion from $5.98 billion in Q4 FY15. The segment's premium and fees contributed $3.88 billion to segment's operating revenues in Q4 FY16 compared to $3.71 billion in Q4 FY15. Furthermore, the segment's pre-tax operating income increased to $969 million in Q4 FY16 from $622 million in Q4 FY15.
Other Operations
During Q4 FY16, Other Operations' total operating revenues were $1.00 billion, versus $1.52 billion in the previous year's same quarter. The segment's pre-tax operating loss during Q4 FY16 was $141 million compared to $123 million in Q4 FY15.
Legacy Portfolio
AIG's Legacy Portfolio's total operating revenues was $2.25 billion in Q4 FY16 which came in above $1.18 billion in Q4 FY15. The segment's Q4 FY16 pre-tax operating income came in at $1.10 billion, against tax operating loss of $175 million in last year's same quarter.
Dividend and Share Buyback
In a separate earnings press release on February 14, 2017, AIG's Board of Directors declared quarterly dividend of $0.32 per share on AIG common stock. The dividend is payable on March 29, 2017, to stockholders of record at the close of business on March 15, 2017.
During Q4 FY16, the Company returned total capital of $13.1 billion to its shareholders. The Company repurchased 47.5 million common shares of AIG's common stock amounting to $3.0 billion and 2.4 million warrants for $46.0 million. Furthermore, the Company repurchased additional 18.4 million common shares for $1.2 billion through February 14, 2017. Furthermore, Board of Directors also authorized repurchase of additional shares of AIG's common stock to approximately $3.5 billion, resulting in an aggregate remaining authorization of approximately $4.7 billion.
Stock Performance
On Thursday, February 16, the stock closed the trading session at $62.27, climbing 2.33% from its previous closing price of $60.85. A total volume of 14.24 million shares have exchanged hands, which was higher than the 3-month average volume of 5.71 million shares. American International Group's stock price advanced 6.60% in the past six months, and 22.64% in the previous twelve months. The stock is trading at a PE ratio of 117.05 and has a dividend yield of 2.06%.
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