American International Group (NYSE:AIG) Upgraded at Cantor Fitzgerald

American International Group (NYSE:AIG) was upgraded by Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $92.00 price target on the insurance provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 15.53% from the stock’s previous close.

AIG has been the topic of several other research reports. Bank of America cut their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. BMO Capital Markets lifted their price target on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. The Goldman Sachs Group upped their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company decreased their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.22.

American International Group Price Performance

AIG opened at $79.63 on Thursday. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $42.22 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.74 and a beta of 0.53. The firm’s fifty day moving average price is $76.01 and its two-hundred day moving average price is $77.02.

American International Group (NYSE:AIG) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, analysts anticipate that American International Group will post 7.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently bought and sold shares of AIG. Brighton Jones LLC purchased a new stake in American International Group in the fourth quarter worth $1,091,000. Sivia Capital Partners LLC lifted its position in shares of American International Group by 30.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after buying an additional 1,185 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of American International Group during the 2nd quarter worth $217,000. Ieq Capital LLC grew its stake in shares of American International Group by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after acquiring an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC purchased a new stake in American International Group in the 2nd quarter worth about $269,000. 90.60% of the stock is owned by institutional investors.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.