American International Group (NYSE:AIG) Given New $83.00 Price Target at JPMorgan Chase & Co.

American International Group (NYSE:AIG) had its target price reduced by JPMorgan Chase & Co. from $89.00 to $83.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.73% from the stock’s previous close.

AIG has been the topic of several other reports. Bank of America boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Evercore ISI decreased their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. UBS Group increased their target price on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group raised their price objective on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.40.

American International Group Trading Up 0.2 %

AIG stock opened at $72.98 on Friday. The firm has a market cap of $45.52 billion, a P/E ratio of -21.53, a P/E/G ratio of 7.30 and a beta of 1.05. The business’s 50 day moving average is $74.75 and its 200-day moving average is $74.84. American International Group has a 1-year low of $66.06 and a 1-year high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the prior year, the firm earned $1.61 EPS. Equities analysts anticipate that American International Group will post 5.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in shares of American International Group in the 3rd quarter worth $26,000. Y.D. More Investments Ltd bought a new stake in American International Group during the 2nd quarter worth approximately $27,000. True Wealth Design LLC purchased a new position in American International Group during the third quarter valued at approximately $29,000. Continuum Advisory LLC boosted its position in shares of American International Group by 60.7% in the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of American International Group in the third quarter worth approximately $46,000. 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.