American International Group, Inc. (NYSE:AIG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “AIG's shares have underperformed the industry year to date. Its weak commercial lines business remains a drag. Adverse reserve development and exposure to catastrophe are the other headwinds. Decling topline is another major concern. Regulators have removed the company from SIFI tag which brings geater capital flexibility to the company. Several turnaround measures undertaken by the company like strategic divestitures, asset sales, increasing share buybacks, dividend hikes, personnel changes, cost control, reinsurance deals, and lowering of hedge fund investments are expected to deliver strong earnings by curbing volatility. Though some of these efforts have paid off, many more reforms are required for a turnaround.”

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reissued a “buy” rating and set a $73.00 price objective on shares of American International Group in a report on Wednesday, September 6th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a report on Wednesday, July 5th. BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 price objective on shares of American International Group in a report on Thursday, August 3rd. Finally, Bank of America Corporation dropped their price objective on shares of American International Group from $71.00 to $69.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.18.

American International Group (NYSE:AIG) traded down 0.31% on Tuesday, reaching $63.78. The company’s stock had a trading volume of 2,453,473 shares. American International Group has a 12-month low of $57.35 and a 12-month high of $67.47. The company’s 50 day moving average price is $60.80 and its 200-day moving average price is $62.23. The stock’s market cap is $57.62 billion.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts expect that American International Group will post $3.48 EPS for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Boston Partners raised its position in shares of American International Group by 262.4% during the 2nd quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after purchasing an additional 4,968,504 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of American International Group by 307.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,167,213 shares of the insurance provider’s stock worth $260,534,000 after purchasing an additional 3,144,446 shares during the last quarter. Prudential Financial Inc. raised its position in shares of American International Group by 202.5% during the 2nd quarter. Prudential Financial Inc. now owns 4,009,199 shares of the insurance provider’s stock worth $250,655,000 after purchasing an additional 2,683,775 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of American International Group during the 2nd quarter worth about $134,359,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of American International Group by 27.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after purchasing an additional 2,103,522 shares during the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.

About American International Group

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.

Analyst Recommendations for American International Group (NYSE:AIG)

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