AIG shares fall for a second straight session on Monday, company appoints Jonathan Wismer as Deputy CFO and Chief Accounting Officer

American International Group Inc (AIG) said on Monday that it had appointed Jonathan Wismer as Senior Vice President, Deputy Chief Financial Officer (CFO) and Chief Accounting Officer with immediate effect. Wismer is expected to report to AIGs Executive Vice President and Chief Financial Officer, Sid Sankaran, and will be based in New York.

AIG shares closed lower for a second consecutive trading session in New York on Monday. The stock went down 0.43% ($0.23) to $53.42, with the intraday high and the intraday low being at $53.53 and $52.72 respectively.

Shares of American International Group have retreated 10.34% so far in 2018 compared with a 6.61% gain for the underlying index, S&P 500 (SPX).

In 2017, AIG’s stock went down 8.77%, thus, it again underperformed the S&P 500, which registered a 19.42% return.

“Jon’s more than 23 years of financial experience and leadership roles within the insurance and reinsurance industry, together with his extensive international experience, will provide valuable perspective to the company,” AIGs CFO Sid Sankaran was quoted as saying in the companys press release.

“He will play an integral role within the finance team as we support AIG’s overall goal of delivering sustainable, profitable growth,” he added.

Jonathan Wismer was most recently Group Controller at Zurich Insurance Group, after previously being part of Liberty Mutuals team for nine years. He had also assumed senior financial and regulatory reporting leadership roles at Allianz Group in Munich, Germany.

Wismer is to succeed Elias Habayeb, who assumed the role of Chief Financial Officer for General Insurance three months ago.

According to CNN Money, the 16 analysts, offering 12-month forecasts regarding AIG’s stock price, have a median target of $63.00, with a high estimate of $76.00 and a low estimate of $54.00. The median estimate represents a 17.93% upside compared to the closing price of $53.42 on August 6th.

The same media also reported that 13 out of 21 surveyed investment analysts had rated AIG’s stock as “Buy”, while 7 – as “Hold”.

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 – $53.49
R2 – $53.57
R3 (Range Resistance – Sell) – $53.64
R4 (Long Breakout) – $53.87
R5 (Breakout Target 1) – $54.13
R6 (Breakout Target 2) – $54.24

S1 – $53.35
S2 – $53.27
S3 (Range Support – Buy) – $53.20
S4 (Short Breakout) – $52.97
S5 (Breakout Target 1) – $52.71
S6 (Breakout Target 2) – $52.60

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 – $54.12
R1 – $55.89
R2 – $58.12
R3 – $59.89
R4 – $61.65

S1 – $51.89
S2 – $50.12
S3 – $47.89
S4 – $45.65