American International Group (NYSE:AIG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen has upgraded American International Group (NYSE:AIG) from a "hold" rating to a "buy" rating, reflecting increased confidence in the stock's potential.
• The stock has received various positive assessments from other financial institutions, with analysts raising their price targets and assigning ratings of "buy" or higher.
• AIG's recent quarterly earnings exceeded expectations, with an EPS of $1.81, surpassing the consensus estimate of $1.60.

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

Several other equities research analysts have also recently weighed in on AIG. Jefferies Financial Group upped their price target on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Morgan Stanley increased 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 research report on Monday, May 19th. Barclays raised their target price on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. William Blair raised American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, American International Group has an average rating of "Moderate Buy" and a consensus price target of $87.93.

American International Group Stock Down 0.3%

Shares of NYSE:AIG traded down $0.22 during midday trading on Friday, hitting $78.41. 2,625,238 shares of the company's stock were exchanged, compared to its average volume of 4,572,509. 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 stock has a 50 day moving average price of $82.29 and a 200-day moving average price of $81.28. The company has a market cap of $43.44 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. American International Group has a 12 month low of $69.24 and a 12 month high of $88.07.

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

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Wealth Enhancement Advisory Services LLC lifted its stake in American International Group by 175.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after acquiring an additional 115,706 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of American International Group by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock valued at $1,445,000 after acquiring an additional 355 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after acquiring an additional 745 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock valued at $1,146,000 after acquiring an additional 2,069 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of American International Group in the 4th quarter valued at about $1,091,000. Institutional investors and hedge funds 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.