AIA Group 1299

Re: AIA Group 1299

Postby winston » Wed Mar 07, 2012 7:49 am

AIA reels from share sale

Shares in AIA Group (1299) had their second-biggest one- day percentage fall yesterday after its former parent, American International Group, raised about US$6 billion (HK$46.8 billion) by selling shares at the bottom end of the marketing range.

AIG's long-awaited selldown punctured a rally in AIA shares this year - driven up by strong earnings and on expectations of a bid for ING's Asian life insurance business.

The US insurer will use the proceeds to repay part of the US$182 billion bailout it got in 2008 from the US government at the height of the global financial crisis. AIG said it will not sell any more AIA shares until September 4.

Still, analysts said AIG's remaining stake will be seen as a potential overhang on the stock and any run-up in the price may make investors suspicious about AIG offloading its remaining 18.6 percent stake valued at US$7.7 billion.

AIA shares shed 8.4 percent to HK$26.75 as trading resumed yesterday, compared with a 2.2 percent drop in the Hang Seng Index. Despite the fall, AIA is one of the best- performing stocks in the Hang Seng Index over the past year, having risen about 27 percent.

AIG sold 1.72 billion ordinary shares at HK$27.15 each in a block sale to unnamed institutional investors.

The shares were first offered in a range of HK$27.15 to HK$27.50, a discount of up to 7 percent on AIA's closing price on Friday.

AIG was forced to spin off AIA, widely considered its crown jewel, and other assets following the bailout.

Source: REUTERS


http://www.thestandard.com.hk/news_deta ... 20307&fc=4
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Re: AIA Group 1299

Postby winston » Mon Apr 02, 2012 12:27 pm

not vested. And the English is lousy ..

Valuation

AIA based in Asia, we expect the Group will be continued growth in seven years with 9% short-term annual growth, after that the long-term growth will be about 6.3%.

The corresponding discount rate is 7.5 % 2011 dividend per share is HK $ 0.33, as we expect that the insurance industry had a high growth period, the growth rate with linear decline, thus we use two-stage dividend discount H model, derived a value of HK$32 per share.

Corresponding to P/B rate about 2.133 times the P/E ratio 17.7 times new business embedded value multiples about 16.9 times.


The major risks

European sovereign debt crisis continues to worsen,
Group's growth rate is slower than our expectation
China's economy deteriorate


Source: Phillips
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Re: AIA Group 1299

Postby iam802 » Mon Apr 02, 2012 4:07 pm

winston wrote:not vested. And the English is lousy ..

..




Takes a lot to piss W.

They must have exceeded your tolerance level.
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: AIA Group 1299

Postby winston » Mon Apr 02, 2012 6:12 pm

Ha Ha ... not pissed. Just that I expect Analyst Reports to have a certain degree of quality ...
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Re: AIA Group 1299

Postby winston » Fri Apr 20, 2012 9:05 am

not vested

DJ MARKET TALK: AIA May Rise; Strong Business Momentum In 1Q

0843 [Dow Jones] AIA (1299.HK) may rise on unabated strong business momentum, with its 1Q (ended February) NBV (new business value) up 27% on year at US$232 million, partly spurred by strong growth in China.

The 1Q NBV sets a quarterly record and importantly, NBV margin improved by 6.9 percentage points to 42.1% while annualized new premiums rose 6% to US$543 million.

The Pan-Asian insurer says it continues to focus on growth in Asia, given increased global volatility amid concerns over Europe's sovereign debt problems.

Source: Dow Jones Newswire
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Re: AIA Group 1299

Postby winston » Thu May 03, 2012 5:43 am

not vested

As the market slightly to relieve the Europe Sovereign debt crisis, the market sentiment improved slightly, we expect the Group's return on investment will be significantly improved in 1 H. In addition, although continued strong NBV growth of the Group, the stock price is still under pressure due to investors worried about AIG may reduce their holdings after log up period (4th September 2012). Thus, we maintain “ Accumulate”" investment rating and target price remains $32 HKD

Valuation

AIA based in Asia, we expect the Group will be continued growth in seven years with 9% short-term annual growth, after that the long-term growth will be about 6.3%, the corresponding discount rate is 7.5 % 2011 dividend per share is HK $ 0.33, as we expect that the insurance industry had a high growth period, the growth rate with linear decline, thus we use two-stage dividend discount H model, derived a value of HK $ 32 per share.

Corresponding to P/B ratio about 2.133 times the P/E ratio 17.7 times , new business embedded value multiples about 16.33 times.


The major risks

1. European sovereign debt crisis continues to worsen,
2. Group's growth rate is slower than we expected
3. China's economy deteriorate
4. Possible stake disposal by AIG (18.60% holding of total shares outstanding)


Source: Phillips
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Re: AIA Group 1299

Postby winston » Wed May 30, 2012 2:10 pm

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DJ MARKET TALK: CS Ups AIA To Outperform; HK$31.50 Target

1029 [Dow Jones] STOCK CALL: Credit Suisse ups AIA (1299.HK) to Outperform from Neutral, given recent share price weakness, with risk/reward profile now skewed favourably;

It raises AIA target price to HK$31.50 vs HK$30.00 after rolling forward valuation.

The house says that since its listing, AIA management has continued to execute "extremely well" on both the key strategies of margin enhancement and agent productivity, with current margin expansion having effectively "locked-in" growth for 2012 (20%+ VNB growth), giving AIA plenty of time to work on growth initiatives for 2013.

The stock is flat at HK$25.15 vs the HSI's 1.9% fall.


Source: Dow Jones Newswire
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Re: AIA Group 1299

Postby winston » Mon Jun 04, 2012 9:34 am

not vested

DJ MARKET TALK: Barclays Ups AIA To Overweight; Target HK$32.60

0831 [Dow Jones] STOCK CALL: Barclays ups AIA (1299.HK) to Overweight from Equal Weight and tweaks its target price to HK$32.60 from HK$32.00.

"We believe the recent pullback in AIA's share price, having reached our downside case, offers an attractive entry point for investors."

The house says AIA is now trading at 4X 1-year forward NBV and 1.2X EV, and tips three catalysts supporting its positive view:
1. AIA still has significant capacity to continue to deliver strong NBV growth, in excess of 20% for FY12/13, driven by margin expansion via the implementation of its Premier Agency model;
2. the earnings outlook also remains strong, with a strong rebound in FY12 net profit tipped and
3. AIG's eventual exit from its AIA holding will also act as an additional share price catalyst.


Source: Dow Jones Newswire
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Re: AIA Group 1299

Postby winston » Tue Jun 19, 2012 11:58 am

not vested

DJ MARKET TALK: UBS Trims AIA Target To HK$32.14; Keeps At Buy

1138 [Dow Jones] STOCK CALL: UBS trims AIA (1299.HK) target price to HK$32.14 from HK$33.50 but keeps the stock at Buy.

It lowers its FY12-14 net profit forecasts 7%-9%, mainly on recent movements of FX and equity markets; it also trims its FY12/FY13 value of new business forecasts 6%/3%, to reflect FX and equity investments and the residual impact from the Thailand flooding and ongoing repositioning of distribution and product mix in Korea.

UBS says that post the placement in March, AIG still owns about 18.6% of AIA; it believes AIG intends to further divest its stake in AIA after the lock-up, which will expire on Sept. 4, 2012.

"Overhang on the share price will exist before the divestment." AIA is down 0.6% at HK$26.15.


Source: Dow Jones Newswire
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Re: AIA Group 1299

Postby winston » Thu Jul 05, 2012 2:19 pm

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DJ MARKET TALK: AIA Shows Decent Thailand Growth, Still A Buy -Citi

1257 [Dow Jones] STOCK CALL: Citigroup says AIA (1299.HK) achieved decent growth in Thailand in April and May; it believes the Thai life insurance sector is recovering well post-floods, and life insurers focusing on protection products (e.g. AIA) are better-positioned to gain market share.

"We continue to see AIA as a core-holding in the Asian insurance space, particularly in the current volatile market environment," Citi says, and keeps AIA at Buy with a target price of HK$34.00.

The stock is down 0.6% at HK$27.00 midday.

Source: Dow Jones Newswire
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