American International Group (NYSE:AIG) Upgraded to “Buy” at HSBC

HSBC upgraded shares of American International Group (NYSE:AIG) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage currently has $93.00 price target on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on AIG. JPMorgan Chase & Co. cut their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average target price of $84.38.

American International Group Trading Up 2.1 %

American International Group stock opened at $81.49 on Wednesday. The firm has a 50 day moving average of $75.02 and a 200 day moving average of $74.96. The firm has a market capitalization of $48.35 billion, a price-to-earnings ratio of -39.18, a P/E/G ratio of 1.01 and a beta of 0.98. American International Group has a 12-month low of $69.00 and a 12-month high of $83.77. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, research analysts predict that American International Group will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.96%. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On American International Group

A number of large investors have recently modified their holdings of AIG. Norges Bank purchased a new stake in shares of American International Group during the fourth quarter worth about $718,013,000. Wellington Management Group LLP grew its stake in shares of American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after acquiring an additional 6,119,996 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of American International Group during the fourth quarter worth about $135,325,000. Prana Capital Management LP lifted its holdings in shares of American International Group by 280.5% during the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after purchasing an additional 1,391,859 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of American International Group by 2,134.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock worth $103,885,000 after purchasing an additional 1,363,108 shares during the period. 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.