HSBC Upgrades American International Group (NYSE:AIG) to “Buy”

American International Group (NYSE:AIG) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $93.00 target price on the insurance provider’s stock. HSBC’s target price indicates a potential upside of 16.54% from the company’s previous close.

AIG has been the subject of several other reports. Morgan Stanley upped their target price on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price objective on American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.38.

American International Group Stock Performance

NYSE AIG opened at $79.80 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group has a fifty-two week low of $69.00 and a fifty-two week high of $83.77. The business has a fifty day moving average of $74.85 and a 200-day moving average of $74.91. The stock has a market cap of $47.35 billion, a price-to-earnings ratio of -38.37, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

Insider Transactions at American International Group

In other news, Director John G. Rice bought 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of American International Group in the 4th quarter worth about $28,113,000. Integrated Advisors Network LLC lifted its holdings in American International Group by 1.0% in the fourth quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider’s stock worth $1,188,000 after acquiring an additional 161 shares during the last quarter. Ameriflex Group Inc. bought a new position in American International Group in the fourth quarter worth about $29,000. Challenger Wealth Management bought a new position in shares of American International Group during the fourth quarter valued at approximately $269,000. Finally, AlphaCore Capital LLC boosted its position in American International Group by 11.8% during the 4th quarter. AlphaCore Capital LLC now owns 12,349 shares of the insurance provider’s stock valued at $899,000 after purchasing an additional 1,300 shares during the period. 90.60% of the stock is currently owned by institutional investors.

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.