American International Group (NYSE:AIG) Upgraded to Buy at Argus

American International Group (NYSE:AIG) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of American International Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, October 17th. Barclays raised their price objective on shares of American International Group from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Royal Bank of Canada upped their target price on American International Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. BMO Capital Markets dropped their price target on American International Group from $69.00 to $68.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley boosted their target price on shares of American International Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.71.

American International Group Stock Performance

Shares of AIG stock opened at $64.36 on Tuesday. American International Group has a 12 month low of $45.66 and a 12 month high of $64.94. The company’s fifty day simple moving average is $61.73 and its 200-day simple moving average is $58.88. The firm has a market cap of $45.18 billion, a PE ratio of 12.33, a P/E/G ratio of 0.96 and a beta of 1.03. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The company had revenue of $12.77 billion for the quarter, compared to analysts’ expectations of $12.62 billion. American International Group had a return on equity of 10.66% and a net margin of 7.87%. During the same quarter in the prior year, the business posted $0.66 EPS. Equities research analysts expect that American International Group will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 50,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the sale, the insider now owns 365,413,892 shares of the company’s stock, valued at approximately $7,490,984,786. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in American International Group in the 1st quarter valued at $84,000. Cetera Advisor Networks LLC boosted its position in shares of American International Group by 11.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock valued at $347,000 after acquiring an additional 578 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of American International Group by 1.2% in the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock valued at $6,331,000 after purchasing an additional 1,207 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of American International Group by 20.1% in the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock valued at $1,283,000 after purchasing an additional 3,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in American International Group by 43.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 1,608 shares in the last quarter. Institutional investors own 88.57% 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 General Insurance, and Life and Retirement segments. 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.