AIG shares gain for a fourth straight session on Tuesday, company appoints John Repko as Chief Information Officer

American International Group Inc (AIG) announced on Tuesday that it had appointed John Repko as its Executive Vice President and Chief Information Officer, effective September 4th. Repko is to succeed Martha Gallo, who will part ways with the company.

AIG shares closed higher for a fourth consecutive trading session in New York on Tuesday. It has also been the sharpest daily surge since July 26th. The stock went up 1.20% ($0.64) to $53.80, after touching an intraday high at $54.09, or a price level not seen since August 2nd ($55.55).

Shares of American International Group have retreated 9.70% so far in 2018 compared with a 7.08% 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.

Prior to his appointment at AIG, John Repko had served as Global Chief Information Officer at Johnson Controls (JCI) since 2016. Before that he was Senior Vice President, Chief Information Officer and Enterprise Transformation Leader at Tyco.

Repko is expected to report to Brian Duperreault, AIGs President and Chief Executive Officer, and will also be a member of the company’s Executive Leadership Team.

He will be in charge of AIG’s global technology strategy, while managing core shared infrastructure, technology partnerships as well as process engineering efforts, the insurance company said.

“John is a results-oriented, versatile business leader with the rare combination of finance and technology expertise,” CEO Brian Duperreault was quoted as saying in the companys press release.

“He is a seasoned Chief Information Officer, with a long and successful track record of completing large scale process improvements and technology transformations. His experience working collaboratively with business leaders to leverage technology to drive results, while strengthening essential systems at the corporate level, will be invaluable as we continue our progress to deliver sustainable, profitable growth,” Duperreault added.

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 17.10% upside compared to the closing price of $53.80 on August 21st.

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 – $53.90
R2 – $54.00
R3 (Range Resistance – Sell) – $54.10
R4 (Long Breakout) – $54.39
R5 (Breakout Target 1) – $54.74
R6 (Breakout Target 2) – $54.90

S1 – $53.70
S2 – $53.60
S3 (Range Support – Buy) – $53.50
S4 (Short Breakout) – $53.21
S5 (Breakout Target 1) – $52.86
S6 (Breakout Target 2) – $52.70

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 – $52.37
R1 – $53.00
R2 – $53.42
R3 – $54.05
R4 – $54.68

S1 – $51.95
S2 – $51.32
S3 – $50.90
S4 – $50.48