American International Group (NYSE:AIG) Stock Rating Lowered by Barclays

American International Group (NYSE:AIG) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday,Finviz reports. They presently have a $88.00 price objective on the insurance provider’s stock. Barclays‘s target price would suggest a potential upside of 13.90% from the stock’s current price.

Several other research firms also recently weighed in on AIG. Morgan Stanley lowered their target price on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Bank of America raised their price objective on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. HSBC lowered their price objective on American International Group from $93.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Wolfe Research began coverage on shares of American International Group in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Jefferies Financial Group lowered their price target on shares of American International Group from $99.00 to $96.00 in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

American International Group Stock Performance

Shares of NYSE AIG opened at $77.26 on Friday. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The firm has a market capitalization of $41.69 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $78.40 and a 200 day moving average of $80.43.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the firm earned $1.23 earnings per share. On average, research analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

Several hedge funds have recently modified their holdings of AIG. Brighton Jones LLC bought a new stake in American International Group in the 4th quarter valued at $1,091,000. Atria Wealth Solutions Inc. boosted its holdings in shares of American International Group by 6.2% during the 1st quarter. Atria Wealth Solutions Inc. now owns 6,651 shares of the insurance provider’s stock valued at $578,000 after purchasing an additional 389 shares during the last quarter. WealthShield Partners LLC purchased a new position in shares of American International Group during the first quarter valued at about $201,000. Citizens Financial Group Inc. RI grew its position in shares of American International Group by 24.9% during the first quarter. Citizens Financial Group Inc. RI now owns 6,538 shares of the insurance provider’s stock valued at $568,000 after purchasing an additional 1,304 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of American International Group by 21.6% in the first quarter. Chicago Partners Investment Group LLC now owns 4,616 shares of the insurance provider’s stock worth $377,000 after purchasing an additional 819 shares during the last quarter. 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.