American International Group (NYSE:AIG) Upgraded to Buy at Wall Street Zen

Key Points

• American International Group (AIG) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive shift in analyst sentiment.
• The company reported earnings per share of $1.81 for the last quarter, outperforming estimates by $0.21.
• AIG maintains a consensus rating of "Moderate Buy" with a price target of $88.27, reflecting optimism among analysts regarding its stock performance.

American International Group (NYSE:AIG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Monday.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research report on Tuesday, August 12th. Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Citigroup assumed coverage on American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective on the stock. Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Cfra Research upgraded American International Group to a "moderate buy" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.27.

American International Group Stock Performance

American International Group stock opened at $78.90 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $43.71 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.84 and a beta of 0.70. American International Group has a 1-year low of $69.24 and a 1-year high of $88.07. The company's 50-day moving average is $80.34 and its 200 day moving average is $82.13.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business posted $1.16 earnings per share. Research analysts forecast that American International Group will post 6.24 EPS for the current year.

Institutional Trading of American International Group

A number of institutional investors have recently modified their holdings of the company. GQG Partners LLC increased its position in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after acquiring an additional 18,852,949 shares in the last quarter. Franklin Resources Inc. boosted its position in American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider's stock worth $1,072,969,000 after purchasing an additional 716,209 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 valued at $974,840,000 after purchasing an additional 1,901,998 shares in the last quarter. Norges Bank purchased a new position in American International Group in the second quarter valued at about $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of American International Group by 22.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider's stock worth $792,340,000 after purchasing an additional 1,694,290 shares in the last quarter. Hedge funds and other 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.

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