American International Group, Inc. (NYSE:AIG) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other analysts also recently issued reports on the stock. Morgan Stanley raised shares of American International Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $62.87 to $61.82 in a report on Tuesday, May 16th. Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, July 5th. TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a report on Thursday, April 20th. Finally, Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the company a “buy” rating in a report on Saturday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $69.02.

Shares of American International Group (NYSE:AIG) opened at 62.65 on Friday. American International Group has a 12-month low of $57.35 and a 12-month high of $67.47. The firm has a 50-day moving average of $64.07 and a 200-day moving average of $63.09. The firm’s market cap is $56.60 billion.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that American International Group will post $5.28 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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In related news, CEO Brian Duperreault purchased 80,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $61.48 per share, with a total value of $4,918,400.00. Following the completion of the transaction, the chief executive officer now owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Windward Capital Management Co. CA raised its position in shares of American International Group by 1.1% in the first quarter. Windward Capital Management Co. CA now owns 158,177 shares of the insurance provider’s stock valued at $9,875,000 after buying an additional 1,779 shares during the period. Hermes Investment Management Ltd. raised its position in shares of American International Group by 8.5% in the first quarter. Hermes Investment Management Ltd. now owns 27,256 shares of the insurance provider’s stock valued at $1,702,000 after buying an additional 2,141 shares during the period. State of Alaska Department of Revenue bought a new position in shares of American International Group during the first quarter valued at approximately $459,000. Rothschild Investment Corp IL raised its position in shares of American International Group by 5.8% in the first quarter. Rothschild Investment Corp IL now owns 79,541 shares of the insurance provider’s stock valued at $4,966,000 after buying an additional 4,385 shares during the period. Finally, Johanson Financial Advisors Inc. bought a new position in shares of American International Group during the first quarter valued at approximately $1,068,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

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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