American International Group (NYSE:AIG) PT Raised to $80.00

American International Group (NYSE:AIG) had its price target increased by stock analysts at Evercore ISI from $74.00 to $80.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s target price points to a potential upside of 8.59% from the company’s current price.

A number of other research firms also recently commented on AIG. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group increased their target price on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets decreased their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $87.00 price objective on shares of American International Group in a research note on Monday, April 1st. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.35.

American International Group Trading Down 0.7 %

American International Group stock opened at $73.67 on Thursday. The business has a 50 day moving average price of $73.77 and a two-hundred day moving average price of $67.99. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 12 month low of $48.95 and a 12 month high of $78.95. The stock has a market cap of $50.17 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.03.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the business posted $1.36 earnings per share. American International Group’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that American International Group will post 7.11 EPS for the current year.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. acquired a new position in shares of American International Group during the 1st quarter worth about $84,000. Cetera Advisor Networks LLC grew its holdings in American International Group by 11.7% during the first quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock valued at $347,000 after purchasing an additional 578 shares during the period. Blair William & Co. IL increased its stake in American International Group by 1.2% in the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock valued at $6,331,000 after purchasing an additional 1,207 shares in the last quarter. Cetera Investment Advisers raised its holdings in American International Group by 20.1% in the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock worth $1,283,000 after purchasing an additional 3,428 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in American International Group by 43.3% in the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 1,608 shares during the period. 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.