American International Group (NYSE:AIG) Cut to Hold at Wall Street Zen

Key Points

• American International Group (AIG) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, impacting investor sentiment.
• Despite the downgrade, several analysts maintain positive outlooks; Morgan Stanley raised its price target to $85, while overall consensus targets AIG's stock to reach an average of $88.27.
• AIG's most recent quarterly earnings surpassed expectations with an EPS of $1.81, highlighting strong performance amid mixed revenue results.

American International Group (NYSE:AIG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

AIG has been the topic of several other reports. Morgan Stanley boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Citigroup started coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $88.27.

American International Group Price Performance

American International Group stock opened at $79.17 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 firm's 50-day simple moving average is $80.86 and its 200 day simple moving average is $82.08. The firm has a market capitalization of $43.86 billion, a PE ratio of 15.00, a P/E/G ratio of 0.84 and a beta of 0.70.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in shares of American International Group during the 4th quarter worth about $29,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of American International Group during the 2nd quarter worth about $32,000. Sachetta LLC lifted its holdings in shares of American International Group by 194.5% during the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock worth $33,000 after acquiring an additional 249 shares during the period. GFG Capital LLC acquired a new stake in American International Group during the 2nd quarter worth approximately $33,000. Finally, Barrett & Company Inc. purchased a new position in American International Group in the second quarter valued at approximately $35,000. 90.60% of the stock is currently owned by hedge funds and other 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.

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