According to a July 6th filing by American International Group Inc (AIG), its new global Chief Operating Officer, Peter Zaffino, is to receive $15 million as a sign-on bonus and a base salary of $1.25 million per year. The sign-on bonus includes options to purchase 1 million shares of AIGs stock.
AIG shares closed higher for the second time in the past five trading sessions on Thursday. The stock went up 0.48% ($0.30) to $63.08, after touching an intraday high at $63.79, or a price level not seen since July 3rd ($63.91). In the week ended on July 2nd the shares of the insurance company lost 0.79% of their market value compared to a week ago, which marked a fourth consecutive period of decline. On the other hand, the stock has extended its advance to 0.90% so far during the current month, following a 1.74% slump in June. The latter has been the fifth drop out of six months. For the entire past year, AIG shares gained 5.39%.
Appointed as COO on July 5th, Zaffino previously was the head of Marsh & McLennan Cos Incs brokerage business. He is to work with Brian Duperreault, AIGs new Chief Executive Officer, who assumed this post in May, while succeeding Hank Greenberg. Duperreault served as Chief Executive of Marsh & McLennan between 2008 and 2012.
Peter Zaffino will be in charge of AIGs day-to-day operations in all countries, including the European region and Japan, as well as of the groups commercial field operations in the United States, the commercial property and casualty insurer said.
According to CNN Money, the 15 analysts, offering 12-month forecasts regarding AIG’s stock price, have a median target of $71.00, with a high estimate of $76.00 and a low estimate of $57.00. The median estimate is a 12.56% surge compared to the closing price of $63.08 on July 6th.
The same media also reported that 12 out of 20 surveyed investment analysts had rated AIG’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the AIG stock are presented as follows:
R1 – $63.17
R2 – $63.27
R3 (Range Resistance – Sell) – $63.36
R4 (Long Breakout) – $63.64
R5 (Breakout Target 1) – $63.97
R6 (Breakout Target 2) – $64.11
S1 – $62.99
S2 – $62.89
S3 (Range Support – Buy) – $62.80
S4 (Short Breakout) – $62.52
S5 (Breakout Target 1) – $62.19
S6 (Breakout Target 2) – $62.05
By using the traditional method of calculation, the weekly levels of importance for American International Group Inc (AIG) are presented as follows:
Central Pivot Point – $63.11
R1 – $63.94
R2 – $65.36
R3 – $66.19
R4 – $67.02
S1 – $61.69
S2 – $60.86
S3 – $59.44
S4 – $58.02
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