American International Group (NYSE:AIG) Rating Increased to Overweight at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald upgraded AIG from “neutral” to “overweight” and set a $92 price target, implying about 15.5% upside from the previous close.
• AIG’s recent quarterly results beat profit expectations, with EPS of $2.11 versus the $1.89 consensus, though revenue came in below estimates at $6.65 billion.
• Despite the upgrade, the stock was down 1.8% to $79.63, while analysts overall still rate it a Moderate Buy with an average target of $88.22.

American International Group (NYSE:AIG - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald from a "neutral" rating to an "overweight" rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $92.00 price target on the insurance provider's stock. Cantor Fitzgerald's price objective points to a potential upside of 15.53% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley dropped their target price on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. Barclays raised their price target on shares of American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. UBS Group upped their price objective on shares of American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday. HSBC cut their price objective on shares of American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their target price on American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, American International Group presently has an average rating of "Moderate Buy" and an average price target of $88.22.

American International Group Trading Down 1.8%

Shares of AIG stock opened at $79.63 on Thursday. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day simple moving average of $76.01 and a two-hundred day simple moving average of $77.02. The company has a market cap of $42.22 billion, a P/E ratio of 14.04, a PEG ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period in the prior year, the business earned $1.17 EPS. Research analysts forecast that American International Group will post 7.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rockland Trust Co. grew its holdings in shares of American International Group by 8.5% during the second quarter. Rockland Trust Co. now owns 36,761 shares of the insurance provider's stock valued at $2,740,000 after buying an additional 2,894 shares during the last quarter. Czech National Bank lifted its position in American International Group by 3.3% in the 2nd quarter. Czech National Bank now owns 150,917 shares of the insurance provider's stock valued at $11,248,000 after acquiring an additional 4,787 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in American International Group by 35.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 146,083 shares of the insurance provider's stock valued at $10,888,000 after acquiring an additional 38,483 shares in the last quarter. GK Wealth Management LLC acquired a new position in American International Group during the 2nd quarter valued at about $239,000. Finally, GAMMA Investing LLC increased its holdings in American International Group by 6.7% during the 2nd quarter. GAMMA Investing LLC now owns 18,740 shares of the insurance provider's stock worth $1,397,000 after purchasing an additional 1,184 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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