Hsbc Global Res Upgrades American International Group (NYSE:AIG) to “Strong-Buy”

American International Group (NYSE:AIG) was upgraded by equities research analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Morgan Stanley boosted their price target on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. reduced their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday. Finally, UBS Group cut their price target on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average target price of $84.38.

American International Group Stock Performance

NYSE AIG opened at $81.49 on Wednesday. The stock has a market cap of $48.35 billion, a PE ratio of -39.18, a P/E/G ratio of 1.01 and a beta of 0.98. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group has a twelve month low of $69.00 and a twelve month high of $83.77. The stock has a fifty day simple moving average of $75.02 and a 200-day simple moving average of $74.96.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Insider Activity

In other American International Group news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently modified their holdings of AIG. Capital Research Global Investors lifted its stake in American International Group by 1.4% in the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after buying an additional 482,724 shares in the last quarter. Wellington Management Group LLP lifted its holdings in American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after buying an additional 461,912 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of American International Group by 14.0% during the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after buying an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new stake in American International Group in the 4th quarter worth approximately $718,013,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.