Atlantic Equities analyst John Heagerty downgraded AIG to Neutral from Overweight with a price target of $65, down from $70. Premium growth for property and casualty names was lower in Q4, particularly for AIG, and profitability improvements slowed given issues with personal lines businesses and crop insurance, the analyst tells investors in a research note. The firm downgraded AIG to reflect slowing premium growth, ongoing issues in Personal P&C, negative operating leverage, and a less attractive valuation following the recent share price outperformance.
Published first on TheFly
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