American International Group (NYSE:AIG) Price Target Cut to $85.00 by Analysts at Mizuho

by · The Markets Daily

American International Group (NYSE:AIG – Get Free Report) had its price objective reduced by research analysts at Mizuho from $86.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price objective indicates a potential upside of 12.23% from the company’s previous close.

AIG has been the subject of a number of other research reports. Argus reiterated a “buy” rating and issued a $90.00 price objective on shares of American International Group in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. increased their price target on American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Morgan Stanley dropped their price objective on American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. UBS Group upped their target price on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Barclays increased their target price on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $88.16.

Check Out Our Latest Research Report on AIG

American International Group Stock Performance

Shares of NYSE AIG traded down $0.25 during midday trading on Wednesday, reaching $75.73. 328,546 shares of the stock were exchanged, compared to its average volume of 4,228,691. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.86 and a beta of 0.50. The firm has a 50-day simple moving average of $77.59 and a two-hundred day simple moving average of $76.76. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the previous year, the business posted $1.81 EPS. As a group, analysts anticipate that American International Group will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares in the company, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% 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 business. L2 Asset Management LLC boosted its position in American International Group by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock worth $227,000 after buying an additional 139 shares during the period. Larson Financial Group LLC increased its position in American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 140 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock valued at $831,000 after acquiring an additional 146 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of American International Group by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,828 shares of the insurance provider’s stock worth $328,000 after purchasing an additional 156 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

(Get Free Report)

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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