American International Group (NYSE:AIG) Price Target Increased to $86.00 by Analysts at Bank of America

by · The Cerbat Gem

American International Group (NYSE:AIG – Get Free Report) had its price target upped by stock analysts at Bank of America from $82.00 to $86.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price target indicates a potential upside of 11.36% from the company’s previous close.

Several other analysts have also commented on the stock. Wells Fargo & Company lowered their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Jefferies Financial Group lifted their price target on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI dropped their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday. Citigroup decreased their target price on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Finally, Piper Sandler lowered their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Get Our Latest Research Report on AIG

American International Group Price Performance

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

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

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in American International Group by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,435,245 shares of the insurance provider’s stock worth $477,802,000 after buying an additional 269,188 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of American International Group by 0.6% during the first quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after acquiring an additional 31,340 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of American International Group by 6.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,148,482 shares of the insurance provider’s stock worth $233,743,000 after acquiring an additional 198,889 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of American International Group by 13.3% in the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after purchasing an additional 258,700 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of 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 valued at $148,053,000 after purchasing an additional 941,607 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About American International Group

(Get Free Report)

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.

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