KBW Sticks to Their Buy Rating for American International Group

By Ryan Adsit

KBW analyst Meyer Shields reiterated a Buy rating on American International Group (NYSE: AIG) on December 4 and set a price target of $74. The company’s shares opened today at $60.03.

According to TipRanks.com, Shields is a 4-star analyst with an average return of 7.4% and a 72.1% success rate. Shields covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Universal Insurance Holdings Inc, and Infinity Property and Casualty.

American International Group has an analyst consensus of Moderate Buy, with a price target consensus of $64.40.

Based on American International Group’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $12.69 billion and GAAP net loss of $1.74 billion. In comparison, last year the company earned revenue of $13.74 billion and had a net profit of $462 million.

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American International Group, Inc. is an insurance company, which engages in the provision of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. The company’s offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. It operates through Commercial Insurance, Consumer Insurance, and Corporate and Other Category. The Commercial Insurance has three operating segments: Property Casualty, Mortgage Guaranty and Institutional Markets. It provides insurance products and services for commercial and institutional customers. The Consumer Insurance also has three operating segments: Retirement, Life and Personal Insurance. It brings a portfolio of retirement, life insurance and personal insurance products offered through distribution networks. The Corporate and Other Category segment includes AIG Parent as well as certain legacy assets and run-off insurance businesses. American International Group was founded by Cornelius Vander Starr in 1919 and is headquartered in New York, NY.