American International Group (AIG) Upgraded to “Hold” at Deutsche Bank

Deutsche Bank upgraded shares of American International Group (NYSE:AIG) from a sell rating to a hold rating in a research note published on Wednesday. The brokerage currently has $59.00 price target on the insurance provider’s stock, up from their prior price target of $58.00.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and set a $73.00 price objective on shares of American International Group in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed a buy rating on shares of American International Group in a research report on Tuesday, October 10th. Bank of America reduced their price objective on American International Group from $71.00 to $69.00 and set a buy rating for the company in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $75.00 price objective on shares of American International Group in a research report on Friday, October 6th. Finally, Wells Fargo & Company reissued a buy rating and set a $75.00 price target on shares of American International Group in a research report on Sunday, October 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $67.70.

American International Group (NYSE AIG) traded down $0.49 during mid-day trading on Wednesday, hitting $59.54. The stock had a trading volume of 2,456,006 shares, compared to its average volume of 5,880,774. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $53,515.05, a PE ratio of 23.72, a P/E/G ratio of 1.96 and a beta of 1.17. American International Group has a 52 week low of $57.90 and a 52 week high of $67.47.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($2.45). The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.05 billion. American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. During the same period in the prior year, the company earned $1.23 earnings per share. sell-side analysts anticipate that American International Group will post 2.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.32 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.28 annualized dividend and a yield of 2.15%. American International Group’s dividend payout ratio is -51.00%.

A number of large investors have recently added to or reduced their stakes in AIG. Bank of Nova Scotia Trust Co. bought a new stake in American International Group in the third quarter valued at approximately $109,000. Peddock Capital Advisors LLC raised its stake in American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the period. Chicago Partners Investment Group LLC bought a new stake in American International Group in the third quarter valued at approximately $163,000. Rational Advisors LLC raised its stake in American International Group by 100.0% in the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock valued at $184,000 after buying an additional 1,500 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its stake in American International Group by 30.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock valued at $192,000 after buying an additional 716 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

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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.

Analyst Recommendations for American International Group (NYSE:AIG)

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