$UIHC (United Insurance Holdings Corp.)

$UIHC {{ '2016-05-02T07:07:06+0000' | timeago}} • Announcement

Insurance holding company $UIHC said it has closed its acquisition of Interboro Insurance Company by acquiring all issued and outstanding common stock of Interboro for $57MM. $UIHC paid $48.5MM of cash at closing and issued an $8.5MM promissory note to Interboro LLC, which will mature in 18 months after closing of the transaction.

$AIG {{ '2018-01-22T14:18:44+0000' | timeago}} • Announcement

Insurance giant $AIG has signed an agreement to acquire $VR, an insurance and asset management firm, for $5.6Bil in cash. The purchase of Validus' assets is expected to be immediately accretive to AIG’s earnings, with the diversification benefits of the deal providing additional capital efficiencies. The transaction is expected to close mid-2018.

$AXP {{ '2018-01-19T18:19:26+0000' | timeago}} • Webcast

$AXP said the highest revenue growth segment in 2017 was the US consumer segment. Despite the US consumer segment being very competitive, the company is generating good results and has good opportunities in this space. There are growth opportunities in small and medium-sized enterprises too. These are areas $AXP plans to invest in going forward.

$AXP {{ '2018-01-19T17:55:20+0000' | timeago}} • Webcast

$AXP expects the lending dynamic in 2018 to remain consistent with 2017. The company’s loan growth is expected to exceed the industry as it focuses on increasing its share of lending, particularly with existing customers. Net interest yield has started to stabilize but is expected to contribute to growth versus prior year.

$AXP {{ '2018-01-19T17:55:03+0000' | timeago}} • Webcast

$AXP's reported billings growth was 11% in 4Q17. This was partly due to the dollar weakening YoY versus the major currencies $AXP operates in overseas but also reflects strong underlying growth. The global commercial and global consumer segments represented 40% and 43% of billings respectively. Global network services made up the remaining 17%.

$RNR {{ '2018-01-19T14:34:07+0000' | timeago}} • Announcement

RenaissanceRe Ventures Ltd., a subsidiary of $RNR, agreed to buy a minority shareholding in Catalina. The agreement is expected to close concurrently with the majority acquisition of Catalina by affiliates of Apollo Global Management. Aditya Dutt, President of Renaissance Underwriting Managers Ltd., will join the Catalina BoD.

$AXP {{ '2018-01-19T14:05:45+0000' | timeago}} • Announcement

During 4Q17, $AXP posted total revenues net of interest expense of $3.4Bil in its US Consumer Services segment, up 13% from 4Q16. The International Consumer and Network Services segment revenues grew 12%. Global Commercial Services reported a 7% growth in revenues while Global Merchant Services reported a 9% revenue growth versus 4Q16.

$AXP {{ '2018-01-19T13:58:39+0000' | timeago}} • Announcement

$AXP expects EPS for full-year 2018 to be $6.90-7.30. The midpoint of this range will represent an approximate 20% increase from the 2017 EPS, excluding the impacts of the Tax Act in 2017.

$AXP {{ '2018-01-19T13:56:36+0000' | timeago}} • Announcement

$AXP's CEO Kenneth Chenault, who will retire this February, stated that the upfront charge triggered by the Tax Act reduced capital ratios and, as a result, while $AXP will be continuing its quarterly dividends at the current level, the company plans to suspend its share buyback program for 1H18 in order to rebuild its capital.

$AXP {{ '2018-01-19T13:49:19+0000' | timeago}} • Announcement

$AXP reported consolidated total revenues, net of interest expense, of $8.8Bil for 4Q17, up 10% from $8Bil in 4Q16. The increase primarily reflected higher Card Member spending, loans and fees, which more than offset the impact of a lower discount rate.

$AXP {{ '2018-01-19T13:40:43+0000' | timeago}} • Announcement

Financial services company $AXP reported its first quarterly net loss in more than two decades for  4Q17, hurt by a one-time charge of $2.6Bil related to the Tax Act. Net loss was $1.19Bil or $1.41 per share compared to a net income of $825MM or $0.88 per share in 4Q16. Excluding the impacts of the Tax Act, EPS for the quarter was $1.58.

$AXP {{ '2018-01-18T22:13:09+0000' | timeago}} • Infographic

$AXP American Express Company Earnings AlphaGraphic: Q4 2017 Highlights

$MS {{ '2018-01-18T17:34:17+0000' | timeago}} • Announcement

Sales and trading net revenue of $MS fell 16% to $2.7Bil in 4Q17, as fixed-income sales and trading revenue slipped 45%. The decrease was primarily driven by lower results in rates and foreign exchange. $MS's decline is on par with $GS that reported a 50% drop in bond trading during 4Q17.

$GS {{ '2018-01-17T21:27:47+0000' | timeago}} • Webcast

$GS expects medium-term share buybacks of $5-6Bil annually. The company said there are many factors that drive the buyback. Those factors include earnings profile, next CCAR cycle and the evolution of the test. The test especially depends on severity of the macro shock.

$GS {{ '2018-01-17T21:20:24+0000' | timeago}} • Webcast

For 1Q18, assuming current stock price levels, $GS estimates the equity compensation related accounting benefit to be about $175MM. Given the positive backdrop for investing further in franchise and the impact of tax legislation on capital ratios, $GS does not expect to use all of its 2017 CCAR cycle authorization in 2018.

$GS {{ '2018-01-17T21:17:56+0000' | timeago}} • Webcast

In 4Q17, $GS consolidated its online lending and deposit platforms under the Marcus brand. Feedback on lending and deposit products has been positive. The company plans to build on this momentum in 2018, while remaining disciplined in its underwriting standard, focused on lending to creditworthy customers.

$GS {{ '2018-01-17T21:06:15+0000' | timeago}} • Webcast

$GS said it took a one-time charge of $4.4Bil in 4Q17 with regard to the effect of U.S. tax reform. The charge includes about $3.3Bil associated with the one-time deemed repatriation tax on foreign earnings and about $1.1Bil related to the remeasurement of deferred tax assets. $GS said there is clearly potential for increased business activity.

$GS {{ '2018-01-17T15:49:01+0000' | timeago}} • Announcement

$GS' BoD declared on Jan. 16 a dividend of $0.75 per common share, payable on March 29, 2018 to shareholders of record on March 1, 2018. During 4Q17, the company repurchased 6.6MM shares at an average cost per share of $241.13, for a total cost of $1.59Bil.

$GS {{ '2018-01-17T15:44:30+0000' | timeago}} • Announcement

$GS' revenue in Investment Management for 4Q17 rose 4% year-over-year to $1.66Bil. This was primarily due to higher management and other fees, reflecting higher average assets under supervision, partially offset by lower incentive fees. During 4Q17, total assets under supervision increased $38Bil to $1.49 trillion.

$GS {{ '2018-01-17T15:41:05+0000' | timeago}} • Announcement

$GS' equity securities revenue for 4Q17 grew 18% year-over-year to $1.21Bil, reflecting a significant increase in net gains from private equities. Revenue in debt securities and loans declined 2% to $449MM, due to higher provisions for loan losses, primarily from impairment of a secured loan.

$GS {{ '2018-01-17T15:39:00+0000' | timeago}} • Announcement

$GS' trading revenue for 4Q17 plunged 50% year-over-year to $1Bil. This was due to significant lower revenues in currencies, credit products, interest rate products and commodities. Fixed Income, Currency and Commodities Client Execution continued to operate in a challenging environment due to low levels of volatility and low client activity.

Recent Transcripts

AXP (American Express Company)
Thursday, January 18 2018 - 10:00pm
GS (The Goldman Sachs Group, Inc.)
Wednesday, January 17 2018 - 2:30pm
GROW (U.S. Global Investors, Inc.)
Friday, November 10 2017 - 1:30pm
TPRE (Third Point Reinsurance Ltd.)
Thursday, November 9 2017 - 1:30pm
AFSI (AmTrust Financial Services, Inc.)
Wednesday, November 8 2017 - 10:30pm
EMCI (EMC Insurance Group Inc.)
Wednesday, November 8 2017 - 5:00pm
BWIN.B (Baldwin & Lyons Inc.)
Wednesday, November 8 2017 - 4:00pm
UIHC (United Insurance Holdings Corp.)
Tuesday, November 7 2017 - 2:00pm
AIG (American International Group, Inc.)
Friday, November 3 2017 - 12:00pm
ARCC (Ares Capital Corporation)
Thursday, November 2 2017 - 4:00pm
RNR (RenaissanceRe Holdings Ltd.)
Wednesday, November 1 2017 - 2:00pm
RE (Everest Re Group Ltd.)
Tuesday, October 31 2017 - 2:30pm
CINF (Cincinnati Financial Corp.)
Friday, October 27 2017 - 3:00pm
VR (Validus Holdings, Ltd.)
Friday, October 27 2017 - 2:00pm
AMSF (Amerisafe, Inc.)
Thursday, October 26 2017 - 2:30pm
XL (XL Group plc)
Tuesday, October 24 2017 - 10:00pm
WRB (W.R. Berkley Corporation)
Tuesday, October 24 2017 - 9:00pm
COF (Capital One Financial Corporation)
Tuesday, October 24 2017 - 9:00pm
ZION (Zions Bancorporation)
Monday, October 23 2017 - 9:30pm
BMRC (Bank of Marin Bancorp)
Monday, October 23 2017 - 3:30pm

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