Cantor Fitzgerald Upgrades American International Group (NYSE:AIG) to Overweight

American International Group (NYSE:AIG) was upgraded by analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat reports. The brokerage presently has a $92.00 target price on the insurance provider’s stock, up from their previous target price of $85.00. Cantor Fitzgerald’s price target suggests a potential upside of 16.26% from the stock’s current price.

A number of other research analysts have also recently issued reports on AIG. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Bank of America decreased their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Barclays raised their price target on American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley reduced their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.44.

American International Group Trading Up 0.0%

AIG stock opened at $79.13 on Thursday. The company has a market capitalization of $41.96 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a one year low of $71.25 and a one year high of $87.29. The company’s 50 day moving average price is $76.22 and its two-hundred day moving average price is $76.99.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, analysts predict that American International Group will post 8 earnings per share for the current fiscal year.

Institutional Trading of American International Group

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after buying an additional 140 shares during the last quarter. GW&K Investment Management LLC increased its holdings in American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock worth $164,000 after buying an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after buying an additional 146 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Trending Headlines about American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG from neutral to overweight and lifted its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: Mizuho raised its price target on AIG to $89 from $86, reflecting higher valuation expectations even while keeping a neutral rating. American International Group (NYSE:AIG) Price Target Raised to $89.00 at Mizuho
• Positive Sentiment: Wells Fargo also increased its target on AIG to $89 from $85, suggesting analysts see further upside from current levels. Benzinga report on Wells Fargo target increase
• Neutral Sentiment: Barclays reaffirmed its hold rating on AIG, which does not add to the bullish case but shows the stock still has analyst attention. Barclays Reaffirms Their Hold Rating on American International Group (AIG)
• Neutral Sentiment: UBS issued a positive forecast for AIG, but no specific target change or upgrade was detailed in the provided item. UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.