American International Group (NYSE:AIG) Downgraded to “Hold” at Deutsche Bank

Deutsche Bank lowered shares of American International Group (NYSE:AIG) from a buy rating to a hold rating in a report released on Wednesday, June 5th, 24/7 WallStreet reports. They currently have $53.35 price target on the insurance provider’s stock. The analysts noted that the move was a valuation call.

AIG has been the subject of several other research reports. Compass Point upgraded shares of American International Group from a neutral rating to a buy rating and lifted their target price for the stock from $44.00 to $56.00 in a research note on Friday, February 15th. Wells Fargo & Co reiterated a buy rating and set a $54.00 price target on shares of American International Group in a report on Wednesday, February 13th. Bank of America reissued a buy rating and set a $46.00 price objective on shares of American International Group in a research report on Thursday, April 11th. Zacks Investment Research raised shares of American International Group from a hold rating to a buy rating and set a $56.00 price objective on the stock in a research report on Thursday, May 9th. Finally, ValuEngine raised shares of American International Group from a sell rating to a hold rating in a research report on Monday, February 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American International Group has a consensus rating of Buy and a consensus price target of $54.85.

American International Group stock traded up $0.23 during mid-day trading on Wednesday, hitting $53.28. 5,214,796 shares of the company traded hands, compared to its average volume of 5,327,723. The firm has a market capitalization of $46.18 billion, a PE ratio of 45.54, a price-to-earnings-growth ratio of 0.96 and a beta of 1.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group has a one year low of $36.16 and a one year high of $56.36. The business’s fifty day moving average price is $52.62.

American International Group (NYSE:AIG) last posted its earnings results on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.52. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $12.25 billion. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, sell-side analysts forecast that American International Group will post 4.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 13th. American International Group’s payout ratio is presently 109.40%.

In related news, Director Therese M. Vaughan bought 1,000 shares of American International Group stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $51,710. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Horizon Investments LLC bought a new position in shares of American International Group in the first quarter valued at approximately $248,000. Allstate Corp raised its stake in shares of American International Group by 173.0% in the first quarter. Allstate Corp now owns 32,839 shares of the insurance provider’s stock valued at $1,414,000 after acquiring an additional 20,811 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of American International Group by 39.7% in the first quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock valued at $445,729,000 after acquiring an additional 2,943,241 shares during the last quarter. Marshall Wace North America L.P. raised its stake in shares of American International Group by 14.2% in the first quarter. Marshall Wace North America L.P. now owns 19,707 shares of the insurance provider’s stock valued at $849,000 after acquiring an additional 2,446 shares during the last quarter. Finally, Summit Global Investments raised its stake in shares of American International Group by 4.4% in the first quarter. Summit Global Investments now owns 147,388 shares of the insurance provider’s stock valued at $6,347,000 after acquiring an additional 6,148 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

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Analyst Recommendations for American International Group (NYSE:AIG)

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