American International Group (AIG) Rating Lowered to Sell at Zacks Investment Research

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

According to Zacks, “American International Group’s shares have underperformed the industry year to date. The company has been suffering from tough market conditions and its massive size with numerous uncorrelated businesses creating little or no synergy. 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. Nevertheless, its underperforming commercial lines business and an exposure to catastrophes continue to bother.”

AIG has been the topic of a number of other reports. Deutsche Bank raised shares of American International Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $58.00 to $59.00 in a research note on Wednesday, December 6th. Bank of America cut their target price on shares of American International Group from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, October 10th. Morgan Stanley reaffirmed a “buy” rating on shares of American International Group in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 target price on shares of American International Group in a research note on Friday, October 6th. Finally, UBS Group cut their target price on shares of American International Group from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. American International Group currently has a consensus rating of “Hold” and a consensus price target of $67.81.

American International Group (AIG) traded up $0.02 during trading on Tuesday, hitting $59.33. 1,618,109 shares of the stock were exchanged, compared to its average volume of 5,833,236. The stock has a market cap of $53,317.29, a P/E ratio of -23.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17. American International Group has a twelve month low of $57.85 and a twelve month high of $67.47. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($2.45). The company had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.05 billion. American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. During the same period last year, the firm posted $1.23 earnings per share. equities research analysts forecast that American International Group will post 2.76 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AIG. Northern Capital Management LLC boosted its stake in American International Group by 4.0% during 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. acquired a new stake in American International Group during the 2nd quarter worth $215,000. Oppenheimer & Co. Inc. boosted its stake in American International Group by 9.8% during 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 boosted its stake in American International Group by 113.5% during 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, Connable Office Inc. purchased a new position in American International Group during the 3rd quarter worth $1,563,000. 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.

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