The Goldman Sachs Group Upgrades American International Group (NYSE:AIG) to “Buy”

American International Group (NYSE:AIG) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The firm presently has a $90.00 price target on the insurance provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 14.33% from the company’s previous close.

AIG has been the subject of several other research reports. Barclays lowered their price target on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. TD Cowen boosted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, December 16th. Bank of America decreased their price target on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, January 16th. HSBC upped their target price on American International Group from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.95.

American International Group Stock Down 1.7%

Shares of AIG opened at $78.72 on Thursday. The company has a market capitalization of $42.24 billion, a PE ratio of 14.52, a PEG ratio of 0.62 and a beta of 0.58. American International Group has a 12 month low of $71.25 and a 12 month high of $88.07. The stock’s 50-day moving average price is $77.54 and its two-hundred day moving average price is $78.95. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. On average, analysts anticipate that American International Group will post 6.24 EPS for the current year.

Institutional Investors Weigh In On American International Group

A number of hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of American International Group in the 4th quarter worth $1,091,000. Sivia Capital Partners LLC raised its holdings in American International Group by 30.7% during the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after buying an additional 1,185 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of American International Group by 26.8% during the second quarter. Crestwood Advisors Group LLC now owns 6,481 shares of the insurance provider’s stock valued at $555,000 after buying an additional 1,368 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its position in shares of American International Group by 3.6% during the second quarter. Waverton Investment Management Ltd now owns 576,672 shares of the insurance provider’s stock worth $49,337,000 after acquiring an additional 20,087 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.