Investment Rating - The report maintains a "Buy" rating for AIA Group with a target price of HKD 90.00 [20]. Core Insights - AIA Group achieved strong growth in 2023, setting a resilient growth base for 2024. The new business value (NBV) is expected to grow by 22% year-on-year in 1H24 at actual exchange rates, despite a high growth base from the previous year [1][17]. - Operating profit after tax (OPAT) is projected to grow by 2% year-on-year (AER) in 1H24, with a significant rebound in earnings per share (EPS) expected to increase by 6% due to share buybacks [1][53]. - The report adjusts the EPS forecast for 2024-2026 to USD 0.41, 0.54, and 0.61, down from previous estimates of USD 0.44, 0.60, and 0.70, respectively [1]. Summary by Sections Financial Performance - AIA Group's gross premium income is projected to increase from USD 16.319 billion in 2022 to USD 19.150 billion in 2024, reflecting a growth rate of 9.34% [54]. - The net profit attributable to shareholders is expected to rise from USD 3.331 billion in 2022 to USD 4.561 billion in 2024, indicating a growth of 21.16% [54]. - The report anticipates a recovery in OPAT growth, projecting a 6% increase in 2024, with 1H24 and 2H24 expected to grow by 4% and 7% respectively [53]. Valuation Methodology - The valuation is based on a three-stage discounted cash flow (DCF) model, incorporating both accounting metrics and embedded value metrics [56]. - The target price of HKD 90 is derived from an average valuation using the book value method (HKD 66) and the embedded value method (HKD 114) [39]. Market Outlook - The report highlights that the Greater China region remains a primary source of growth for AIA Group, with strong performance in both mainland China and Hong Kong markets [35]. - The anticipated return of OPAT to positive growth is supported by a rebound in NBV, which had previously faced declines [53].

Market Valu As to regions, Thailand is the largest allocation, followed by China. Worth keeping in mind in case a conflict between the two actually takes place militarily. On the positive side, AIA includes the region's largest and most important enterprises from a wide spectrum of sectors spanning technology to consumer-led business across financial powerhouses. By buying this ETF, you indirectly benefit from the collective investments going into these enterprises. Overall, this diversification within Asia ...

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time. AIA (AAGIY) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend i ...

Allete (ALE) is an energy company. The Zacks Consensus Estimate for its current year earnings has been revised 9.4% downward over the last 60 days. ALLIENT INC (ALNT) designs, manufactures and sells precision and specialty controlled motion components and systems. The Zacks Consensus Estimate for its current year earnings has been revised 8.8% downward over the last 60 days. View the entire Zacks Rank #5 List. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: AIA (AAGIY) is a life i ...

Investment Rating - The report maintains an "Outperform" rating for AIA Group [25][29]. Core Insights - The report highlights a significant year-on-year increase in New Business Value (NBV) of 31%, reaching USD 1.33 billion, alongside a new USD 2 billion share buyback plan, increasing the total to USD 12 billion [10][25]. - AIA's NBV margin improved to 54.2%, up by 2.1 percentage points year-on-year, indicating a positive trend in profitability [10][11]. - The company is expected to continue benefiting from strong demand for savings products, particularly in the Chinese market, with a focus on the growth of its agency and bancassurance channels [10][12]. Summary by Sections Financial Performance - AIA's insurance revenue for 2023 is projected at USD 17.514 billion, with a net profit of USD 3.764 billion, reflecting a year-on-year growth of 13% [13][40]. - The annualized new premium (ANP) is expected to reach USD 24.5 billion, marking a 26% increase [10]. Valuation Metrics - The report estimates a price-to-earnings value (PEV) of 1.29x for 2024, suggesting that the current valuation is low with a high margin of safety [12][16]. - AIA is projected to have a reasonable value range of HKD 82.97 to HKD 86.71 based on absolute valuation methods and comparable company valuations [12][29]. Growth Drivers - The report notes that AIA's new agent recruitment and active agent numbers have both increased by over 20%, indicating strong growth in its distribution channels [11]. - The company is expected to maintain high growth rates in the Chinese market and across ASEAN regions, driven by the development of new branches and strong sales performance [12][29].

Investment Rating - The report maintains a "Buy" rating for AIA Group (01299) with a target price of HKD 80.0 [24] Core Views - AIA Group's NBV (New Business Value) for Q1 2024 reached USD 1.327 billion, a 31% YoY growth at constant exchange rates [3][7] - The company announced an additional USD 2 billion to its existing USD 10 billion share buyback program, to be completed within 12 months, exceeding market expectations [3][17] - AIA China and Hong Kong were the primary contributors to NBV growth, with YoY increases of 38% and 43%, respectively [7] - The company's optimized capital management policy includes a target dividend payout ratio of 75% of free surplus net amount, reflecting strong governance and confidence in future growth [17] Financial Performance - Annualized new premiums for Q1 2024 were USD 2.449 billion, up 26% YoY, with a new business value margin improving by 2.1 percentage points to 54.2% [7] - The agent channel contributed a 20% YoY increase in NBV, while the partner distribution channel saw a 70% YoY increase due to improved channel value rates [7] - AIA's total assets are projected to grow from USD 270.471 billion in 2022 to USD 350.804 billion in 2026, with net profit expected to increase from USD 3.365 billion in 2022 to USD 5.430 billion in 2026 [10][15] Regional Performance - Mainland China's NBV growth outperformed domestic peers, driven by the "Best Agents" model, with new agent numbers and active new agent numbers both growing over 20% YoY [7] - Hong Kong's NBV growth was fueled by increased contributions from mainland tourists following the reopening of borders [7] - All other regions also achieved double-digit NBV growth, supported by the company's superior channel strategy and high-value products [7] Valuation and Forecasts - The report forecasts AIA's net profit attributable to shareholders to grow to USD 4.316 billion in 2024, USD 4.965 billion in 2025, and USD 5.405 billion in 2026, representing YoY growth rates of 15%, 15%, and 9%, respectively [23] - The company's embedded value (EV) is expected to increase from USD 68.865 billion in 2022 to USD 72.277 billion in 2026, with EV per share (EVPS) rising from USD 4.86 in 2022 to USD 5.10 in 2026 [18] Capital Management - AIA's optimized capital management policy includes a commitment to return capital to shareholders through dividends and share buybacks, starting from 2024 [17] - The company plans to review its capital position regularly and return any excess capital beyond operational needs [17]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AFC Gamma, Inc. (AFCG) is a cannabis-focused lending company. The Zacks Consensus Estimate for its current year earnings has been revised 5.2% downward over the last 60 days.AIA Group Limited (AAGIY) is a life insurance provider. The Zacks Consensus Estimate for its current year earnings has been revised 16.6% downward over the last 60 days.AMN Healthcare Services, Inc. (AMN) is a healthcare workforce solutions provider. The Zacks Con ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 90 HKD [14][16]. Core Insights - The company achieved a record high in new business value (NBV) of 1.327 billion USD in Q1 2024, representing a year-on-year increase of 31%. The NBV margin improved by 2.1 percentage points to 54.2% [14][20]. - The company announced an increase of 2 billion USD to its existing 10 billion USD share buyback program, reflecting its commitment to shareholder returns [14][20]. - The report highlights strong performance across various channels, with agent channels growing NBV by 20% and partner distribution channels increasing by 70% [14][20]. Summary by Sections Financial Performance - In Q1 2024, the company reported a new business value of 1.327 billion USD, up 31% year-on-year, with an annualized new premium growth of 26% to 2.449 billion USD [14][20]. - The NBV margin for AIA China rose from 52.7% in H2 2023 to 54.6% in Q1 2024, while AIA Hong Kong saw an increase from 58.1% to 64.3% [14][20]. - Key Southeast Asian markets, including Thailand and Malaysia, also reported double-digit growth in NBV, with Thailand maintaining a NBV margin exceeding 90% [14][20]. Shareholder Returns - The company plans to return 75% of its annual free surplus as dividends and share buybacks starting in 2024, with a reference free surplus of 3.9 billion USD for 2023 [14][20]. - As of April 25, 2024, the company had repurchased shares worth approximately 8.169 billion USD, accounting for 68.1% of the total buyback amount [14][20]. Earnings Forecast - The report slightly adjusts the EPS forecast for 2024-2026 to 0.40, 0.44, and 0.47 USD, respectively, while maintaining a P/EV valuation of 1.7x [14][20].

Investment Rating - The report maintains a "Buy" rating for the company with a current price of HKD 57.3 [1][21]. Core Insights - The new business value reached a quarterly high of USD 1.33 billion in Q1 2024, representing a year-on-year increase of 31% (fixed exchange rate) and 26.9% (actual exchange rate) [3][17]. - The annualized new premium was USD 2.45 billion, up 22.6% year-on-year, while total weighted premium income was USD 11.22 billion, reflecting a 9.6% increase year-on-year [3][17]. - The company has optimized its capital management policy, targeting a payout ratio of 75% of the annual free surplus net income, with an additional USD 2 billion added to the share buyback plan, bringing the total to USD 12 billion [6][15]. Summary by Sections Revenue Performance - The report shows relative performance of 1.8% over 1 month, -22.0% over 3 months, and -20.4% over 1 year, with absolute performance of 9.0%, -11.6%, and -31.1% respectively [1]. Market Data - The total share capital is 1.1238 billion shares, with a total market capitalization of HKD 643.936 billion. The stock price has ranged from HKD 45.25 to HKD 86.8 over the past year [4]. New Business Value - The new business value in the Hong Kong market grew by 43% year-on-year in Q1 2024, driven by strong local and MCV business performance [3][5]. - The company achieved double-digit growth in new business value across all reported segments, indicating robust recovery momentum post-pandemic [5]. Financial Forecasts - The company is expected to generate net profits of USD 4.839 billion, USD 5.571 billion, and USD 6.277 billion for the years 2024, 2025, and 2026 respectively, with corresponding growth rates of 28.6%, 15.1%, and 12.7% [10][22]. - The projected PEV for 2024, 2025, and 2026 is 1.19, 1.12, and 1.04 respectively, indicating a favorable valuation outlook [22]. Capital Management - The company plans to return capital to shareholders through dividends and share buybacks, with a total expected return of USD 2.9 billion based on the 2023 free surplus net income [6][15].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 20% [3][8]. Core Insights - The company reported a strong recovery in its performance, with a notable increase in New Business Value (NBV) and a new $2 billion share buyback plan that exceeded expectations [2]. - The company aims to return 75% of its annual free surplus to shareholders through dividends and share buybacks, maintaining a consistent dividend policy with annual growth [2]. - The NBV for Q1 2024 reached $13.27 billion, representing a year-over-year increase of 31%, while the Annualized New Premium (ANP) was $24.49 billion, up 26% year-over-year [2]. - The NBV Margin (NBVM) increased by 2.1 percentage points to 54.2%, marking the first year-over-year growth since 2022, alleviating concerns about product structure changes [2]. - The company’s diverse distribution channels showed robust growth, with NBV from agents and partners increasing by 20% and 70% year-over-year, respectively [2]. Financial Performance Summary - The company achieved an insurance revenue of $17.514 billion in 2023, with projected growth to $18.969 billion in 2024, reflecting an 8.3% year-over-year increase [9]. - The net profit attributable to the parent company is expected to rise significantly from $3.764 billion in 2023 to $6.144 billion in 2024, representing a 63.2% increase [9]. - The Earnings Per Share (EPS) is projected to increase from $0.27 in 2023 to $0.43 in 2024 [9]. - The company’s investment performance is expected to improve, with net investment income projected to rise from $12.566 billion in 2023 to $14.769 billion in 2024 [9].