Wall Street Zen Upgrades American International Group (NYSE:AIG) to "Buy"

Key Points

• Wall Street Zen has upgraded American International Group (NYSE:AIG) from a "hold" rating to a "buy" rating, indicating increased confidence in the company's stock.
• Analysts have varied opinions on AIG, with two rating it as a Strong Buy, nine as a Buy, and ten as a Hold, reflecting a consensus rating of "Moderate Buy" and an average target price of $88.31.
• AIG's stock has seen recent trading activity with a share price of $81.05 and a market capitalization of approximately $44.90 billion, following a quarterly earnings report that surpassed estimates.

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 research report issued on Friday.

Other equities analysts also recently issued research reports about the company. Evercore ISI increased their price target on American International Group from $89.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday. William Blair raised American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of American International Group in a research report on Saturday, September 27th. Finally, Piper Sandler reduced their price target on American International Group from $96.00 to $88.00 and set an "overweight" rating for the company in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of "Moderate Buy" and an average target price of $88.31.

American International Group Trading Up 1.8%

AIG traded up $1.41 during trading hours on Friday, reaching $81.05. 3,753,676 shares of the company's stock traded hands, compared to its average volume of 5,095,689. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $79.30 and a 200 day moving average price of $81.70. The firm has a market capitalization of $44.90 billion, a PE ratio of 15.35, a PEG ratio of 0.85 and a beta of 0.68. American International Group has a 52-week low of $69.24 and a 52-week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results 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. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company earned $1.16 EPS. As a group, sell-side analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC increased its position in American International Group by 187.4% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 15,711 shares of the insurance provider's stock valued at $1,234,000 after buying an additional 10,245 shares in the last quarter. National Wealth Management Group LLC acquired a new position in American International Group during the 2nd quarter valued at about $614,000. Valeo Financial Advisors LLC grew its stake in American International Group by 6.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 13,099 shares of the insurance provider's stock valued at $1,121,000 after purchasing an additional 794 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in American International Group during the 2nd quarter valued at about $227,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in American International Group during the 2nd quarter valued at about $544,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

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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