American International Group, Inc. (NYSE:AIG) Receives $84.38 Average Target Price from Brokerages

American International Group, Inc. (NYSE:AIG) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $84.38.

Several equities analysts recently issued reports on the company. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Wells Fargo & Company dropped their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

American International Group Price Performance

Shares of American International Group stock opened at $75.88 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group has a 52-week low of $60.82 and a 52-week high of $80.83. The company has a fifty day moving average of $75.08 and a 200-day moving average of $75.56. The stock has a market capitalization of $48.86 billion, a price-to-earnings ratio of -58.82, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.75 earnings per share. Equities research analysts expect that American International Group will post 5.09 EPS for the current year.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently made changes to their positions in AIG. Portside Wealth Group LLC grew its stake in shares of American International Group by 19.5% in the 3rd quarter. Portside Wealth Group LLC now owns 14,643 shares of the insurance provider’s stock worth $1,072,000 after buying an additional 2,393 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in American International Group by 41.4% in the third quarter. Deseret Mutual Benefit Administrators now owns 6,285 shares of the insurance provider’s stock worth $460,000 after acquiring an additional 1,841 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of American International Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock worth $53,785,000 after acquiring an additional 9,118 shares during the last quarter. Graypoint LLC increased its holdings in shares of American International Group by 2.0% during the third quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock valued at $635,000 after acquiring an additional 167 shares in the last quarter. Finally, M&G PLC raised its position in shares of American International Group by 2.9% in the 3rd quarter. M&G PLC now owns 121,697 shares of the insurance provider’s stock worth $8,884,000 after purchasing an additional 3,480 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.