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 report issued on Monday.

Several other research analysts have also recently weighed in on the stock. Cfra Research upgraded shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Morgan Stanley boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Citigroup assumed coverage on American International Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target for the company. Finally, William Blair upgraded American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.27.

American International Group Trading Down 0.9%

Shares of AIG stock opened at $76.33 on Monday. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $80.08 and its 200 day moving average is $82.05. The stock has a market capitalization of $42.29 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.82 and a beta of 0.70.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter last year, the company posted $1.16 earnings per share. Research analysts expect that American International Group will post 6.24 earnings per share for the current year.

Institutional Trading of American International Group

A number of large investors have recently made changes to their positions in the business. GQG Partners LLC increased its holdings in shares of American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after buying an additional 18,852,949 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock worth $1,072,969,000 after buying an additional 716,209 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of American International Group by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after buying an additional 1,901,998 shares during the last quarter. Norges Bank bought a new stake in shares of American International Group in the 2nd quarter worth about $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in American International Group by 22.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after purchasing an additional 1,694,290 shares during the last quarter. 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.