Insurance Technology Industry News

TMCNet:  Downgrade Alert for American International (AIG)

[January 10, 2013]

Downgrade Alert for American International (AIG)

Jan 10, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- American International (NYSE:AIG) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $35.76 on volume of 14.7 million shares, below average daily volume of 29.6 million. American International Group, Inc. is a holding company which, through its subsidiaries provides a varied range of insurance and insurance-related activities in the United States and abroad. The Company's main activities include both general insurance and life insurance & retirement services operations as well as financial services and asset management.

Over the past year, American International has traded in a range of $23.50 to $37.67 and closed yesterday at $35.76, 52% above that low. The 200-day and 50-day moving averages have moved 0.35% higher and 0.12% higher over the past week, respectively.

American International (NYSE:AIG) has potential upside of 9.9% based on a current price of $35.76 and analysts' consensus price target of $39.30. The stock should find initial support at its 50-day moving average (MA) of $33.85 and further support at its 200-day MA of $32.72.

SmarTrend recommended that subscribers consider buying shares of American International on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.08. Since that recommendation, shares of American International have risen 8.1%. We continue to monitor AIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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