Bank of America Has Lowered Expectations for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price target cut by equities research analysts at Bank of America from $80.00 to $79.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s target price would suggest a potential upside of 2.42% from the stock’s previous close.

AIG has been the subject of several other research reports. Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Mizuho reduced their target price on American International Group from $86.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday. TD Cowen increased their price target on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group dropped their price target on American International Group from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on American International Group from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.41.

American International Group Stock Up 0.1%

Shares of NYSE:AIG opened at $77.14 on Tuesday. American International Group has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The company’s fifty day moving average is $77.21 and its 200-day moving average is $78.22. The company has a market capitalization of $41.41 billion, a PE ratio of 14.23, a P/E/G ratio of 0.59 and a beta of 0.59.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter last year, the company posted $1.30 EPS. Equities research analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of AIG. Brighton Jones LLC acquired a new stake in shares of American International Group in the 4th quarter valued at $1,091,000. Sivia Capital Partners LLC boosted its holdings in American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after acquiring an additional 1,185 shares during the last quarter. Flow Traders U.S. LLC bought a new position in American International Group in the second quarter valued at about $217,000. Ieq Capital LLC increased its position in American International Group by 11.5% in the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after purchasing an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC acquired a new stake in American International Group in the second quarter worth about $269,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.