Evercore ISI Lowers American International Group (NYSE:AIG) Price Target to $85.00

American International Group (NYSE:AIG) had its target price cut by analysts at Evercore ISI from $90.00 to $85.00 in a report issued on Friday,MarketScreener reports. Evercore ISI’s price objective would suggest a potential upside of 17.68% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price target on American International Group from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. HSBC cut their target price on shares of American International Group from $91.00 to $86.00 and set a “buy” rating for the company in a report on Friday, January 16th. Royal Bank Of Canada initiated coverage on shares of American International Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 target price for the company. Cantor Fitzgerald dropped their price target on shares of American International Group from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $87.42.

American International Group Trading Down 0.1%

NYSE AIG opened at $72.23 on Friday. American International Group has a 1 year low of $71.25 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $38.97 billion, a PE ratio of 13.13, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a fifty day moving average of $79.12 and a 200 day moving average of $79.39.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same period last year, the firm earned $1.23 EPS. Research analysts forecast that American International Group will post 6.24 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of American International Group by 28.1% in the fourth quarter. Farther Finance Advisors LLC now owns 10,656 shares of the insurance provider’s stock valued at $912,000 after acquiring an additional 2,337 shares in the last quarter. Bingham Private Wealth LLC acquired a new position in American International Group in the 4th quarter valued at $541,000. Sage Mountain Advisors LLC lifted its holdings in American International Group by 6.6% in the 4th quarter. Sage Mountain Advisors LLC now owns 7,729 shares of the insurance provider’s stock valued at $661,000 after purchasing an additional 476 shares in the last quarter. Patton Fund Management Inc. boosted its stake in American International Group by 7.2% during the 4th quarter. Patton Fund Management Inc. now owns 2,906 shares of the insurance provider’s stock worth $249,000 after purchasing an additional 195 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in American International Group by 2.8% during the 4th quarter. Assetmark Inc. now owns 28,514 shares of the insurance provider’s stock worth $2,439,000 after purchasing an additional 782 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.