American International Group, Inc. (NYSE:AIG) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, August 1st.
Several other research firms also recently commented on AIG. Credit Suisse Group set a $72.00 price objective on American International Group and gave the company a “buy” rating in a research note on Saturday, April 15th. Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $62.87 to $61.82 in a research note on Tuesday, May 16th. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Wednesday, July 5th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a report on Wednesday, April 12th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of American International Group in a report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. American International Group presently has an average rating of “Buy” and a consensus target price of $69.02.
American International Group (NYSE:AIG) opened at 61.34 on Tuesday. The stock’s 50 day moving average price is $63.93 and its 200-day moving average price is $62.98. American International Group has a 52 week low of $57.35 and a 52 week high of $67.47. The company’s market cap is $55.41 billion. American International Group also was the target of some unusual options trading on Wednesday. Traders bought 12,371 call options on the stock. This represents an increase of approximately 249% compared to the average volume of 3,541 call options.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts forecast that American International Group will post $5.28 earnings per share for the current fiscal year.
American International Group declared that its board has authorized a stock repurchase program on Wednesday, May 3rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its position in American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock worth $165,000 after buying an additional 14 shares in the last quarter. Lyell Wealth Management LP boosted its position in American International Group by 0.5% in the second quarter. Lyell Wealth Management LP now owns 3,606 shares of the insurance provider’s stock worth $225,000 after buying an additional 18 shares in the last quarter. Welch & Forbes LLC boosted its position in American International Group by 0.7% in the first quarter. Welch & Forbes LLC now owns 4,502 shares of the insurance provider’s stock worth $281,000 after buying an additional 33 shares in the last quarter. First Personal Financial Services boosted its position in American International Group by 0.6% in the second quarter. First Personal Financial Services now owns 6,256 shares of the insurance provider’s stock worth $391,000 after buying an additional 38 shares in the last quarter. Finally, Usca Ria LLC boosted its position in American International Group by 0.4% in the second quarter. Usca Ria LLC now owns 11,505 shares of the insurance provider’s stock worth $719,000 after buying an additional 50 shares in the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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