Morgan Stanley Increases American International Group (NYSE:AIG) Price Target to $79.00

American International Group (NYSE:AIG) had its price objective raised by equities researchers at Morgan Stanley from $72.00 to $79.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 7.02% from the company’s previous close.

A number of other research firms also recently weighed in on AIG. Wells Fargo & Company increased their price target on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. BMO Capital Markets cut their price target on shares of 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. TD Cowen assumed coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price on the stock. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and raised their target price for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.06.

American International Group Stock Performance

NYSE AIG opened at $73.82 on Monday. The company has a fifty day moving average of $73.96 and a two-hundred day moving average of $68.27. American International Group has a 1 year low of $48.95 and a 1 year high of $78.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $50.27 billion, a PE ratio of 14.79, a P/E/G ratio of 1.04 and a beta of 1.03.

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

Insider Buying and Selling

In other news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group 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 transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of American International Group in the first quarter valued at $29,000. OFI Invest Asset Management bought a new stake in American International Group during the third quarter worth about $26,000. Headlands Technologies LLC bought a new stake in American International Group during the third quarter worth about $32,000. Neo Ivy Capital Management bought a new stake in American International Group during the fourth quarter worth about $40,000. Finally, Scarborough Advisors LLC bought a new stake in American International Group during the fourth quarter worth about $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.