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

American International Group (NYSE:AIG) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

Several other equities analysts also recently commented on AIG. William Blair raised shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Citigroup initiated coverage on shares of American International Group in a research note on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective for the company. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. Morgan Stanley increased their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.27.

American International Group Stock Performance

Shares of NYSE:AIG opened at $76.33 on Monday. The company has a market cap of $42.29 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.82 and a beta of 0.70. The company has a 50-day moving average price of $80.08 and a 200-day moving average price of $82.05. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group has a 12 month low of $69.24 and a 12 month high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the prior year, the firm posted $1.16 earnings per share. As a group, equities analysts anticipate that American International Group will post 6.24 EPS for the current year.

Institutional Investors Weigh In On American International Group

Institutional investors have recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in shares of American International Group during the fourth quarter valued at approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group during the second quarter valued at approximately $32,000. Sachetta LLC grew its holdings in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after buying an additional 249 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of American International Group during the second quarter valued at approximately $33,000. Finally, Barrett & Company Inc. purchased a new stake in shares of American International Group during the second quarter valued at approximately $35,000. 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.