ValuEngine Downgrades American International Group, Inc. (AIG) to Hold

American International Group, Inc. (NYSE:AIG) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other brokerages have also recently issued reports on AIG. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price objective on shares of American International Group in a research note on Thursday, August 3rd. BidaskClub raised American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. American International Group presently has a consensus rating of “Hold” and an average price target of $68.35.

American International Group (NYSE AIG) opened at 62.55 on Wednesday. The firm’s market capitalization is $56.51 billion. The firm’s 50-day moving average price is $60.72 and its 200 day moving average price is $62.21. American International Group has a one year low of $57.35 and a one year high of $67.47.

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

TRADEMARK VIOLATION NOTICE: This piece of content was published by Markets Daily and is owned by of Markets Daily. If you are reading this piece of content on another site, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/10/13/valuengine-downgrades-american-international-group-inc-aig-to-hold.html.

Large investors have recently bought and sold shares of the business. Northern Capital Management LLC grew its position in American International Group by 4.0% in the 2nd quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after purchasing an additional 1,760 shares during the period. Girard Partners LTD. bought a new stake in American International Group in the 2nd quarter worth approximately $215,000. Oppenheimer & Co. Inc. grew its position in American International Group by 9.8% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock worth $5,557,000 after purchasing an additional 7,963 shares during the period. AXA grew its position in American International Group by 113.5% in the 2nd quarter. AXA now owns 411,178 shares of the insurance provider’s stock worth $25,707,000 after purchasing an additional 218,583 shares during the period. Finally, Allen Investment Management LLC grew its position in American International Group by 126.4% in the 2nd quarter. Allen Investment Management LLC now owns 42,000 shares of the insurance provider’s stock worth $2,626,000 after purchasing an additional 23,445 shares during the period. 83.98% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply