Royal Bank Of Canada Upgrades American International Group (NYSE:AIG) to Hold

American International Group (NYSE:AIG) was upgraded by investment analysts at Royal Bank Of Canada to a “hold” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Citigroup assumed coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Bank of America upped their price target on shares of American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Cfra Research upgraded American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald upgraded American International Group to a “hold” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

American International Group Stock Performance

Shares of NYSE AIG opened at $76.13 on Monday. The business’s 50-day simple moving average is $78.47 and its 200-day simple moving average is $80.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07. The firm has a market cap of $41.08 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 0.77 and a beta of 0.73.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same period in the previous year, the company earned $1.23 EPS. As a group, equities research analysts expect that American International Group will post 6.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Vise Technologies Inc. bought a new stake in shares of American International Group during the second quarter worth $858,000. Jupiter Asset Management Ltd. bought a new stake in American International Group during the 2nd quarter worth about $6,127,000. Patton Fund Management Inc. bought a new stake in American International Group during the 2nd quarter worth about $232,000. AIA Group Ltd boosted its stake in shares of American International Group by 169.6% in the 1st quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock valued at $901,000 after purchasing an additional 6,523 shares during the last quarter. Finally, Townsquare Capital LLC grew its position in shares of American International Group by 5.4% during the 1st quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock worth $10,009,000 after buying an additional 5,899 shares during the period. 90.60% of the stock is currently owned by institutional investors.

About American International Group

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.