American International Group (NYSE:AIG) PT Raised to $93.00 at JPMorgan Chase & Co.

American International Group (NYSE:AIG) had its target price raised by investment analysts at JPMorgan Chase & Co. from $80.00 to $93.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.45% from the company’s current price.

Other analysts have also issued reports about the company. BMO Capital Markets boosted their target price on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Piper Sandler boosted their target price on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday. Finally, Morgan Stanley decreased their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.50.

American International Group Stock Up 0.3 %

Shares of NYSE:AIG opened at $77.21 on Thursday. The business has a fifty day simple moving average of $76.69 and a 200 day simple moving average of $73.82. American International Group has a 12-month low of $57.02 and a 12-month high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market cap of $51.24 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.07 and a beta of 1.08.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The firm had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same period last year, the company posted $1.63 EPS. Analysts predict that American International Group will post 7.07 earnings per share for the current year.

American International Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC purchased a new position in American International Group in the third quarter valued at approximately $206,000. American Century Companies Inc. lifted its stake in American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after purchasing an additional 77,874 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in American International Group in the third quarter valued at approximately $102,000. Massmutual Trust Co. FSB ADV lifted its stake in American International Group by 34.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,392 shares of the insurance provider’s stock valued at $162,000 after purchasing an additional 619 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its stake in American International Group by 16.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,092 shares of the insurance provider’s stock valued at $480,000 after purchasing an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.