American International Group (NYSE:AIG) Stock Rating Upgraded by JPMorgan Chase & Co.

American International Group (NYSE:AIG) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Thursday, MarketBeat reports. The firm presently has a $89.00 price objective on the insurance provider’s stock, down from their prior price objective of $93.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.24% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Bank of America increased their price target on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Citigroup dropped their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price objective on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued 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 $84.50.

American International Group Stock Up 0.9 %

Shares of American International Group stock opened at $77.23 on Thursday. The company has a market cap of $49.73 billion, a price-to-earnings ratio of -59.87, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. The company’s 50 day moving average is $73.76 and its 200 day moving average is $75.51. American International Group has a twelve month low of $58.69 and a twelve month high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company earned $1.75 EPS. Research analysts anticipate that American International Group will post 5.09 EPS for the current year.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Swedbank AB purchased a new stake in American International Group during the 1st quarter worth approximately $99,951,000. Canada Pension Plan Investment Board grew its position in American International Group by 98.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after purchasing an additional 941,607 shares during the last quarter. Bank of Montreal Can grew its position in American International Group by 83.6% during the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares during the last quarter. Senator Investment Group LP grew its position in American International Group by 41.0% during the 1st quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after purchasing an additional 441,048 shares during the last quarter. Finally, National Bank of Canada FI grew its position in American International Group by 171.9% during the 1st quarter. National Bank of Canada FI now owns 640,971 shares of the insurance provider’s stock worth $51,348,000 after purchasing an additional 405,230 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.