American International Group (NYSE:AIG) Rating Increased to Hold at StockNews.com

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

AIG has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Piper Sandler reduced their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. TD Cowen dropped their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Wednesday. Finally, Barclays initiated coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.31.

American International Group Stock Performance

NYSE AIG traded down $0.99 during trading hours on Friday, reaching $75.60. The stock had a trading volume of 6,826,129 shares, compared to its average volume of 4,122,604. American International Group has a 52-week low of $62.75 and a 52-week high of $80.83. The stock has a fifty day moving average of $75.15 and a 200 day moving average of $75.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $48.68 billion, a P/E ratio of -22.30, a price-to-earnings-growth ratio of 5.26 and a beta of 1.05.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same period in the previous year, the firm posted $1.61 earnings per share. Sell-side analysts predict that American International Group will post 4.99 earnings per share for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several large investors have recently added to or reduced their stakes in AIG. Diamond Hill Capital Management Inc. increased its holdings in American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of American International Group by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock worth $477,802,000 after buying an additional 269,188 shares during the period. Clearbridge Investments LLC increased its stake in shares of American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after buying an additional 31,340 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in American International Group by 6.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock valued at $233,743,000 after acquiring an additional 198,889 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in American International Group by 13.3% in the second quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock worth $152,411,000 after acquiring an additional 258,700 shares during the last quarter. 90.60% of the stock is 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.