American International Group (NYSE:AIG) Rating Increased to Buy at Wall Street Zen

American International Group (NYSE:AIG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research firms also recently issued reports on AIG. Barclays upped their price objective on shares of American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. William Blair upgraded shares of American International Group to a “strong-buy” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Jefferies Financial Group increased their price target on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company increased their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

American International Group Stock Performance

AIG opened at $78.12 on Friday. American International Group has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $43.28 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The firm’s 50-day moving average price is $82.43 and its 200-day moving average price is $81.25.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. As a group, equities analysts anticipate that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its position in shares of American International Group by 11.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 40,176 shares of the insurance provider’s stock valued at $3,439,000 after buying an additional 4,102 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of American International Group by 422.7% during the 2nd quarter. Kingsview Wealth Management LLC now owns 34,729 shares of the insurance provider’s stock valued at $2,972,000 after buying an additional 28,085 shares in the last quarter. Cornerstone Advisors LLC lifted its position in shares of American International Group by 18.5% during the 2nd quarter. Cornerstone Advisors LLC now owns 23,700 shares of the insurance provider’s stock valued at $2,028,000 after buying an additional 3,700 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of American International Group by 27.1% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,313 shares of the insurance provider’s stock valued at $712,000 after buying an additional 1,775 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.