American International Group (NYSE:AIG) Stock Rating Upgraded by William Blair

Key Points

• American International Group (AIG) has been upgraded to a "strong-buy" rating by William Blair, reflecting increasing confidence in the company's stock performance.
• JPMorgan Chase, Morgan Stanley, and Wells Fargo have all increased their price targets on AIG, with a consensus target currently set at $88.19.
• For the latest quarter, AIG reported an EPS of $1.17, surpassing expectations, despite a decline in net margin compared to the previous year.

William Blair upgraded shares of American International Group (NYSE:AIG - Free Report) to a strong-buy rating in a research note published on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Barclays raised their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Jefferies Financial Group raised their target price on shares of American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 11th. Morgan Stanley upped their price target on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 target price (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, American International Group presently has an average rating of "Moderate Buy" and an average price target of $88.33.

American International Group Trading Up 1.6%

Shares of AIG stock traded up $1.27 on Friday, hitting $78.27. The stock had a trading volume of 4,757,871 shares, compared to its average volume of 4,305,770. The firm has a market capitalization of $45.11 billion, a P/E ratio of -29.42, a P/E/G ratio of 0.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The company's 50 day moving average price is $82.94 and its 200-day moving average price is $81.14. American International Group has a 1 year low of $69.00 and a 1 year high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same period in the prior year, the firm earned $1.25 earnings per share. Analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

Several hedge funds have recently modified their holdings of AIG. Brighton Jones LLC acquired a new position in American International Group in the 4th quarter valued at $1,091,000. World Investment Advisors bought a new position in American International Group in the 4th quarter valued at about $421,000. Pitcairn Co. raised its position in shares of American International Group by 2.2% in the 4th quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider's stock valued at $536,000 after buying an additional 158 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of American International Group in the 4th quarter valued at approximately $13,422,000. Finally, Sit Investment Associates Inc. lifted its holdings in shares of American International Group by 7.5% during the 4th quarter. Sit Investment Associates Inc. now owns 135,464 shares of the insurance provider's stock worth $9,862,000 after acquiring an additional 9,470 shares during the period. Institutional investors own 90.60% of the company's stock.

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.