American International Group (AIG) Lowered to “Sell” at Zacks Investment Research

American International Group (NYSE:AIG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “AIG has been suffering from tough market conditions and its massive size with numerous uncorrelated businesses creating little or no synergy. Weakness in its General Insurance segment and an exposure to catastrophes continue to bother. Although the shares of AIG have underperformed the industry year to date, its strong fundamentals should support going forward. However, the company’s strategic divestitures have streamlined the company’s core operations. Strong performance of its Life and Retirement Segment remain major positives. Recently, the insurance giant appointed Brian Duperreault as its new CEO with expectations of improving operations by completing ongoing restructuring initiatives and making additional changes.”

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Several other equities analysts have also recently commented on the stock. Barclays reaffirmed an “overweight” rating and set a $71.00 price objective (up previously from $68.00) on shares of American International Group in a research note on Tuesday, February 20th. Wells Fargo reiterated a “buy” rating on shares of American International Group in a research report on Tuesday, January 2nd. Bank of America upgraded shares of American International Group from a “neutral” rating to a “buy” rating and dropped their target price for the company from $59.40 to $58.28 in a research report on Friday, February 9th. Credit Suisse Group set a $73.00 target price on shares of American International Group and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $76.00 target price on shares of American International Group in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $66.16.

NYSE AIG traded up $0.53 during trading hours on Monday, reaching $54.12. 1,989,509 shares of the company were exchanged, compared to its average volume of 7,130,431. American International Group has a 1 year low of $52.42 and a 1 year high of $67.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $48,363.31, a PE ratio of 22.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, February 8th. The insurance provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.18). American International Group had a positive return on equity of 3.10% and a negative net margin of 12.62%. During the same quarter in the previous year, the company posted ($2.96) earnings per share. analysts forecast that American International Group will post 5.46 EPS for the current fiscal year.

In related news, Director W Don Cornwell sold 2,500 shares of American International Group stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total value of $146,950.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Claudine Macartney sold 2,052 shares of American International Group stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $59.61, for a total transaction of $122,319.72. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Markston International LLC grew its position in shares of American International Group by 0.5% in the 4th quarter. Markston International LLC now owns 181,895 shares of the insurance provider’s stock worth $10,837,000 after buying an additional 834 shares during the period. Quadrant Capital Management LLC grew its position in shares of American International Group by 1.9% in the 4th quarter. Quadrant Capital Management LLC now owns 45,011 shares of the insurance provider’s stock worth $2,682,000 after buying an additional 850 shares during the period. M Holdings Securities Inc. grew its position in shares of American International Group by 14.8% in the 4th quarter. M Holdings Securities Inc. now owns 6,770 shares of the insurance provider’s stock worth $389,000 after buying an additional 872 shares during the period. MML Investors Services LLC grew its position in shares of American International Group by 11.7% in the 4th quarter. MML Investors Services LLC now owns 10,413 shares of the insurance provider’s stock worth $620,000 after buying an additional 1,091 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of American International Group by 6.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 22,695 shares of the insurance provider’s stock worth $1,352,000 after buying an additional 1,399 shares during the period. 87.25% of the stock is currently owned by institutional investors and hedge funds.

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American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.

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