Keefe, Bruyette & Woods Lowers American International Group (NYSE:AIG) Price Target to $87.00

American International Group (NYSE:AIG) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $88.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 14.34% from the company’s current price.

Other research analysts have also recently issued research reports about the company. UBS Group lifted their price objective on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler lowered their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Evercore ISI lowered their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays assumed coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.13.

American International Group Price Performance

Shares of AIG stock opened at $76.09 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a fifty-two week low of $63.39 and a fifty-two week high of $80.83. The firm has a market cap of $47.46 billion, a P/E ratio of -22.45, a P/E/G ratio of 7.41 and a beta of 1.05. The business’s 50 day moving average price is $75.10 and its 200-day moving average price is $75.68.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same period in the previous year, the company posted $1.61 earnings per share. On average, equities research analysts anticipate that American International Group will post 5.13 earnings per share for the current year.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Several institutional investors have recently made changes to their positions in the business. Forum Financial Management LP grew its position in shares of American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC grew its holdings in American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares in the last quarter. EagleClaw Capital Managment LLC grew its holdings in American International Group by 0.5% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock valued at $2,225,000 after buying an additional 150 shares in the last quarter. Independent Advisor Alliance grew its holdings in American International Group by 1.6% during the 3rd quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock valued at $761,000 after buying an additional 161 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in American International Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares in the last quarter. Hedge funds and other 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.