American International Group (NYSE:AIG) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

American International Group (NYSE:AIG – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Cantor Fitzgerald lowered their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 12th. JPMorgan Chase & Co. increased their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Bank of America reissued a “neutral” rating on shares of American International Group in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.79.

Get Our Latest Stock Analysis on American International Group

American International Group Price Performance

Shares of American International Group stock opened at $77.77 on Friday. The business has a 50 day simple moving average of $77.46 and a two-hundred day simple moving average of $76.94. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a market capitalization of $40.32 billion, a P/E ratio of 12.67, a PEG ratio of 0.82 and a beta of 0.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

American International Group (NYSE:AIG – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.18. American International Group had a return on equity of 10.86% and a net margin of 11.86%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, analysts predict that American International Group will post 8.10 EPS for the current fiscal year.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently modified their holdings of the company. Swiss National Bank increased its position in shares of American International Group by 4.3% during the first quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock worth $119,163,000 after acquiring an additional 65,400 shares during the period. Freestone Grove Partners LP boosted its holdings in American International Group by 51.5% in the second quarter. Freestone Grove Partners LP now owns 1,925,980 shares of the insurance provider’s stock valued at $143,543,000 after purchasing an additional 655,065 shares during the period. KBC Group NV grew its stake in American International Group by 5.8% during the 1st quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock worth $25,868,000 after purchasing an additional 18,812 shares in the last quarter. Apollon Wealth Management LLC grew its stake in American International Group by 66.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 25,593 shares of the insurance provider’s stock worth $1,905,000 after purchasing an additional 10,245 shares in the last quarter. Finally, State Street Corp grew its stake in American International Group by 0.8% during the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock worth $1,871,852,000 after purchasing an additional 196,969 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

(Get Free Report)

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.

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