Boston, MA 10/23/2013 (wallstreetpr) – American International Group Inc (NYSE:AIG) has now entered the good books of equities analysts at Zack, collecting an outperform rating from the rating agency in the latest comment on its shares. Zacks had previously issued a neutral rating on AIG shares and now its latest sentiment indicates a positive review. It has assigned the global insurance company a price target of $62. This upgrade comes at a time when the insurer has had a positive rally in recent weeks.
In the previous trading session Tuesday, October 22, AIG gained $0.29 to finish up $52.29. It however slipped in the after hour trading by nearly 0.34%. The insurance company witnessed a relatively high volume activity exceeding its daily average. The insurer now has $77.20 billion in market value.
AIG now carries an average buy rating and $50.91 in target price following reviews from 19 analysts; out of which eight have assigned its share a hold rating and 11 have assigned it a buy rating.
In its Q2.13 earnings results, AIG realized $1.12 per share for the quarter. By this EPS, it smashed the consensus estimate of $0.86 by $0.26. In the comparable quarter (Q2.12), the insurer reported $.06 per share earning. Therefore its most recent quarterly posting indicates $0.06 upside from the corresponding one a year ago. Analysts have pegged their hopes on the global insurer earning $4.32 per share in the full-year posting.
With a seemingly positive trade in the past few quarters, AIG indicates potential for even better show in the forth coming October 31, Q3.13 earnings release.
AIG has one of the widest insurance networks spanning over 130 countries and it offers a wide range of insurance services such as mortgage insurance, retirement products, life insurance and many others. For long-term value investors, AIG is a perfect piece to consider. It essentially has the power, nay, intent to put massive profits into the hands of investors.
