American International Group (NYSE:AIG - Get Rating) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Thursday.
AIG has been the topic of a number of other reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $81.00 price objective on shares of American International Group in a research note on Tuesday, May 10th. Barclays raised their price objective on shares of American International Group from $61.00 to $63.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $66.57.
Shares of AIG stock opened at $51.38 on Thursday. American International Group has a 52-week low of $44.54 and a 52-week high of $65.73. The stock has a market cap of $40.70 billion, a PE ratio of 4.44, a PEG ratio of 0.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.31 and a current ratio of 0.31. The firm's 50 day moving average price is $58.07 and its two-hundred day moving average price is $58.93.
American International Group (NYSE:AIG - Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.06. American International Group had a net margin of 18.30% and a return on equity of 7.11%. The firm had revenue of $10.99 billion for the quarter, compared to analysts' expectations of $11.43 billion. During the same period last year, the firm earned $1.05 earnings per share. As a group, sell-side analysts predict that American International Group will post 5.18 earnings per share for the current fiscal year.
American International Group announced that its Board of Directors has approved a share repurchase program on Tuesday, May 3rd that authorizes the company to buyback $6.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Several large investors have recently modified their holdings of AIG. EagleClaw Capital Managment LLC grew its position in American International Group by 0.5% in the third quarter. EagleClaw Capital Managment LLC now owns 47,350 shares of the insurance provider's stock valued at $2,589,000 after purchasing an additional 250 shares in the last quarter. MML Investors Services LLC grew its position in shares of American International Group by 7.1% in the 3rd quarter. MML Investors Services LLC now owns 25,406 shares of the insurance provider's stock valued at $1,395,000 after acquiring an additional 1,677 shares during the period. LPL Financial LLC grew its position in shares of American International Group by 29.3% in the 3rd quarter. LPL Financial LLC now owns 252,265 shares of the insurance provider's stock valued at $13,847,000 after acquiring an additional 57,148 shares during the period. Toroso Investments LLC grew its position in shares of American International Group by 26.8% in the 3rd quarter. Toroso Investments LLC now owns 6,614 shares of the insurance provider's stock valued at $363,000 after acquiring an additional 1,396 shares during the period. Finally, National Asset Management Inc. grew its position in shares of American International Group by 4.6% in the 3rd quarter. National Asset Management Inc. now owns 4,782 shares of the insurance provider's stock valued at $263,000 after acquiring an additional 212 shares during the period. Institutional investors and hedge funds own 92.57% of the company's stock.
About American International Group (Get Rating)
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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