StockNews.com Upgrades American International Group (NYSE:AIG) to Hold

American International Group (NYSE:AIG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other brokerages have also issued reports on AIG. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Wednesday. Barclays started coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. UBS Group lifted their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average target price of $84.31.

American International Group Stock Down 1.3 %

Shares of NYSE AIG traded down $0.99 during midday trading on Friday, hitting $75.60. 6,826,129 shares of the company’s stock were exchanged, compared to its average volume of 4,122,604. The firm’s fifty day simple moving average is $75.15 and its 200-day simple moving average is $75.66. The company has a market cap of $48.68 billion, a PE ratio of -22.30, a P/E/G ratio of 5.26 and a beta of 1.05. American International Group has a twelve month low of $62.75 and a twelve month high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the company earned $1.61 earnings per share. Research analysts predict that American International Group will post 4.99 EPS for the current fiscal year.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

A number of large investors have recently made changes to their positions in AIG. Christopher J. Hasenberg Inc purchased a new position in American International Group in the 3rd quarter valued at approximately $26,000. Y.D. More Investments Ltd purchased a new position in shares of American International Group in the second quarter valued at $27,000. Fortitude Family Office LLC raised its stake in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group in the 3rd quarter worth about $46,000. 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.