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

According to Zacks, “AIG's shares have underperformed the industry year to date. Its weak commercial lines business remains a drag. Adverse reserve development and exposure to catastrophe are the other headwinds. Decling topline is another major concern. Regulators have removed the company from SIFI tag which brings geater capital flexibility to the company. Several turnaround measures undertaken by the company like strategic divestitures, asset sales, increasing share buybacks, dividend hikes, personnel changes, cost control, reinsurance deals, and lowering of hedge fund investments are expected to deliver strong earnings by curbing volatility. Though some of these efforts have paid off, many more reforms are required for a turnaround.”

A number of other analysts also recently weighed in on AIG. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. BidaskClub raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Deutsche Bank AG restated a “sell” rating and set a $60.00 target price (up previously from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Atlantic Securities cut shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Wednesday, August 9th. Finally, Wells Fargo & Company set a $75.00 target price on shares of American International Group and gave the company a “buy” rating in a research note on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.18.

Shares of American International Group (NYSE AIG) traded up 0.36% on Monday, hitting $64.78. 4,025,472 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $62.03 and its 200 day moving average is $62.41. The firm’s market cap is $58.52 billion. American International Group has a 12 month low of $57.35 and a 12 month high of $67.47.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities analysts predict that American International Group will post $3.39 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the business. Brightworth acquired a new position in American International Group in the third quarter valued at approximately $224,000. Westpac Banking Corp raised its stake in shares of American International Group by 2.2% during the 3rd quarter. Westpac Banking Corp now owns 78,238 shares of the insurance provider’s stock worth $4,803,000 after buying an additional 1,710 shares during the period. Beech Hill Advisors Inc. raised its stake in shares of American International Group by 7.5% during the 3rd quarter. Beech Hill Advisors Inc. now owns 57,465 shares of the insurance provider’s stock worth $3,528,000 after buying an additional 4,000 shares during the period. Northern Capital Management LLC raised its stake in shares of American International Group by 19.7% during the 3rd quarter. Northern Capital Management LLC now owns 55,210 shares of the insurance provider’s stock worth $3,389,000 after buying an additional 9,095 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of American International Group during the 3rd quarter worth approximately $1,019,000. 83.64% of the stock is owned by institutional investors.

About American International Group

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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