American International Group (NYSE:AIG) Lowered to “Sell” at ValuEngine

American International Group (NYSE:AIG) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

AIG has been the subject of a number of other research reports. Evercore ISI began coverage on American International Group in a research note on Thursday. They set an “in-line” rating and a $54.00 price target for the company. Wells Fargo & Co restated a “buy” rating and issued a $64.00 target price on shares of American International Group in a research note on Thursday, September 19th. Keefe, Bruyette & Woods boosted their target price on American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Sunday, July 7th. Royal Bank of Canada boosted their target price on American International Group to $68.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded American International Group from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. American International Group currently has an average rating of “Hold” and a consensus price target of $57.80.

AIG stock traded up $0.58 during mid-day trading on Monday, reaching $54.55. 2,183,406 shares of the company traded hands, compared to its average volume of 4,608,656. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 1.07 and a beta of 1.19. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.55. American International Group has a fifty-two week low of $36.16 and a fifty-two week high of $58.66. The firm’s 50 day moving average price is $55.15 and its 200 day moving average price is $52.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.26. The business had revenue of $12.16 billion during the quarter, compared to the consensus estimate of $12.07 billion. American International Group had a positive return on equity of 2.97% and a negative net margin of 0.24%. During the same quarter in the previous year, the business earned $1.05 EPS. On average, analysts anticipate that American International Group will post 5.07 EPS for the current fiscal year.

In related news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total value of $422,800.00. Following the sale, the chief executive officer now owns 11,055 shares of the company’s stock, valued at approximately $619,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of AIG. Marshall Wace North America L.P. raised its holdings in American International Group by 14.2% during the 1st 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 period. Private Trust Co. NA purchased a new position in shares of American International Group during the 2nd quarter valued at $227,000. Rockland Trust Co. grew its position in shares of American International Group by 8.0% during the 2nd quarter. Rockland Trust Co. now owns 61,835 shares of the insurance provider’s stock valued at $3,295,000 after purchasing an additional 4,587 shares in the last quarter. First American Trust FSB purchased a new position in shares of American International Group during the 2nd quarter valued at $3,889,000. Finally, PhiloSmith Capital Corp grew its position in shares of American International Group by 45.5% during the 2nd quarter. PhiloSmith Capital Corp now owns 80,000 shares of the insurance provider’s stock valued at $4,262,000 after purchasing an additional 25,000 shares in the last quarter. 91.01% of the stock is currently owned by institutional investors and hedge funds.

American International Group Company Profile

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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