American International Group (NYSE:AIG) Earns “Outperform” Rating from Royal Bank of Canada

American International Group (NYSE:AIGGet Free Report)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $87.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 16.29% from the company’s previous close.

A number of other research analysts have also commented on the company. Bank of America increased their price objective on American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, June 11th. Morgan Stanley raised their price target on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler raised their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their price objective on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.81.

Check Out Our Latest Research Report on American International Group

American International Group Trading Up 1.3 %

AIG stock opened at $74.81 on Tuesday. The business has a fifty day moving average price of $76.73 and a 200 day moving average price of $73.65. American International Group has a fifty-two week low of $57.02 and a fifty-two week high of $80.83. The stock has a market capitalization of $49.65 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIGGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same period last year, the company earned $1.63 EPS. Analysts expect that American International Group will post 7.02 EPS for the current fiscal year.

American International Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Institutional investors have recently made changes to their positions in the company. Integrated Advisors Network LLC boosted its stake in shares of American International Group by 57.0% in the third quarter. Integrated Advisors Network LLC now owns 15,054 shares of the insurance provider’s stock valued at $912,000 after buying an additional 5,468 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of American International Group by 3.8% in the third quarter. Public Sector Pension Investment Board now owns 166,302 shares of the insurance provider’s stock valued at $10,078,000 after buying an additional 6,053 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of American International Group in the third quarter valued at approximately $206,000. American Century Companies Inc. boosted its stake in shares of American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after buying an additional 77,874 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of American International Group in the third quarter valued at approximately $102,000. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for American International Group (NYSE:AIG)

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