American International Group (NYSE:AIG) Price Target Raised to $90.00

American International Group (NYSE:AIG) had its price target upped by BMO Capital Markets from $87.00 to $90.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 19.78% from the company’s current price.

AIG has been the subject of a number of other research reports. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. TD Cowen dropped their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Wells Fargo & Company cut their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.94.

American International Group Stock Performance

NYSE:AIG traded up $2.80 during mid-day trading on Friday, reaching $75.14. 943,040 shares of the company’s stock were exchanged, compared to its average volume of 4,149,211. The firm has a market capitalization of $49.87 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06. 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 one year low of $58.69 and a one year high of $80.83. The business’s fifty day simple moving average is $73.90 and its two-hundred day simple moving average is $75.54.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The firm had revenue of $1.00 million for 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%. American International Group’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Analysts anticipate that American International Group will post 5.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of American International Group

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings in American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new stake in American International Group in the 2nd quarter worth about $27,000. Rise Advisors LLC purchased a new position in shares of American International Group during the first quarter valued at $29,000. Valued Wealth Advisors LLC boosted its stake in American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares during the last quarter. 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.