American International Group (NYSE:AIG) Price Target Raised to $87.00

American International Group (NYSE:AIG) had its target price hoisted by investment analysts at Citigroup from $79.00 to $87.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Citigroup’s price target would indicate a potential upside of 19.87% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. BMO Capital Markets lowered their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Morgan Stanley boosted their price objective on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Royal Bank of Canada boosted their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average price target of $79.06.

American International Group Stock Performance

Shares of American International Group stock opened at $72.58 on Tuesday. The firm has a market cap of $49.42 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The firm’s 50-day simple moving average is $74.01 and its 200-day simple moving average is $68.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a 1 year low of $48.95 and a 1 year high of $78.95.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 EPS. Equities analysts forecast that American International Group will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Peter Zaffino sold 333,000 shares of the 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 sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost 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 of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

Institutional Trading of American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of American International Group in the 4th quarter valued at approximately $736,063,000. Morgan Stanley lifted its position in shares of American International Group by 55.1% in the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after acquiring an additional 3,738,346 shares in the last quarter. Sessa Capital IM L.P. purchased a new stake in shares of American International Group in the 1st quarter valued at approximately $73,040,000. Deutsche Bank AG lifted its position in shares of American International Group by 58.1% in the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock valued at $185,677,000 after acquiring an additional 1,354,652 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in shares of American International Group in the 1st quarter valued at approximately $57,511,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

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.