HSBC Upgrades American International Group (NYSE:AIG) to “Buy”

HSBC upgraded shares of American International Group (NYSE:AIG) from a hold rating to a buy rating in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have $93.00 target price on the insurance provider’s stock.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a report on Tuesday, January 14th. UBS Group cut their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

American International Group Trading Up 2.1 %

Shares of NYSE:AIG opened at $81.49 on Wednesday. American International Group has a 12-month low of $69.00 and a 12-month high of $83.77. The company has a market capitalization of $48.35 billion, a PE ratio of -39.18, a PEG ratio of 1.01 and a beta of 0.98. The business has a 50 day moving average of $75.02 and a two-hundred day moving average of $74.96. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, analysts forecast that American International Group will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, March 17th. American International Group’s payout ratio is currently -76.92%.

Insider Buying and Selling at American International Group

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

Large investors have recently added to or reduced their stakes in the stock. Atlanta Consulting Group Advisors LLC purchased a new stake in American International Group in the 3rd quarter valued at $494,000. Artemis Investment Management LLP lifted its stake in shares of American International Group by 115.9% in the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after purchasing an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in shares of American International Group by 5.2% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after purchasing an additional 3,490 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of American International Group in the 4th quarter valued at $1,260,000. Finally, Williams & Novak LLC acquired a new position in shares of American International Group in the 4th quarter valued at $279,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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.