Bank of America Increases American International Group (NYSE:AIG) Price Target to $86.00

American International Group (NYSE:AIG) had its target price increased by equities researchers at Bank of America from $82.00 to $86.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price objective indicates a potential upside of 12.79% from the company’s current price.

A number of other equities analysts have also issued reports on AIG. Morgan Stanley lowered their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Wells Fargo & Company decreased their price target on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. BMO Capital Markets lifted their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $93.00 to $89.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.50.

American International Group Trading Up 0.9 %

AIG traded up $0.65 on Thursday, hitting $76.25. The company had a trading volume of 832,397 shares, compared to its average volume of 4,141,842. American International Group has a 1 year low of $58.69 and a 1 year high of $80.83. The firm has a market cap of $50.60 billion, a P/E ratio of 11.38, a PEG ratio of 3.70 and a beta of 1.06. The company’s fifty day moving average price is $73.63 and its 200 day moving average price is $75.50. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, equities analysts expect that American International Group will post 5.24 earnings per share for the current year.

Insider Buying and Selling

In related 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 directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AIG. Cetera Investment Advisers raised its stake in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the period. OFI Invest Asset Management grew its stake in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares during the period. Bessemer Group Inc. lifted its holdings in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in American International Group in the 1st quarter worth about $1,367,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in American International Group by 19.0% in the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock worth $12,206,000 after purchasing an additional 24,906 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

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.