American International Group (NYSE:AIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “American International Group’s shares have outperformed the industry in last one month. A number of asset sale and business divestitures made over the past many years have however, streamlined the company to some extent. Recently the insurance giant appointed Brian Duperreault as its new CEO with expectations of improving operations by completing restructuring initiatives already underway and making further changes. The company has been suffering from tough market conditions and its massive size with numerous uncorrelated businesses creating little or no synergy.  Also its underperforming commercial lines business and an exposure to catastrophes continue to bother.”

A number of other analysts have also recently weighed in on the company. Buckingham Research started coverage on American International Group in a research report on Monday, September 11th. They set an “underperform” rating and a $52.00 price target on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $73.00 price target on shares of American International Group in a research report on Wednesday, September 6th. Deutsche Bank upgraded American International Group from a “sell” rating to a “hold” rating and raised their target price for the company from $58.00 to $59.00 in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $74.00 target price on shares of American International Group in a research report on Wednesday, December 6th. Finally, Wells Fargo & Co set a $75.00 target price on American International Group and gave the company a “buy” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.81.

Shares of American International Group (NYSE:AIG) opened at $60.16 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $53,488.09, a P/E ratio of -23.97, a PEG ratio of 1.09 and a beta of 1.18. American International Group has a 1 year low of $57.85 and a 1 year high of $67.47.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($2.45). The company had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.05 billion. American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. During the same quarter in the previous year, the company posted $1.23 earnings per share. research analysts predict that American International Group will post 2.75 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of American International Group by 121.9% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,631,331 shares of the insurance provider’s stock valued at $959,607,000 after purchasing an additional 8,586,682 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of American International Group by 27.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock valued at $616,283,000 after purchasing an additional 2,103,522 shares during the period. Alliancebernstein L.P. increased its position in shares of American International Group by 1.7% during the 2nd quarter. Alliancebernstein L.P. now owns 9,432,868 shares of the insurance provider’s stock valued at $589,743,000 after purchasing an additional 159,529 shares during the period. Boston Partners increased its position in shares of American International Group by 14.2% during the 3rd quarter. Boston Partners now owns 7,835,692 shares of the insurance provider’s stock valued at $481,034,000 after purchasing an additional 973,835 shares during the period. Finally, Pzena Investment Management LLC increased its position in shares of American International Group by 0.7% during the 3rd quarter. Pzena Investment Management LLC now owns 6,507,357 shares of the insurance provider’s stock valued at $399,487,000 after purchasing an additional 46,738 shares during the period. Institutional investors own 85.90% of the company’s stock.

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American International Group Company Profile

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)

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