American International Group (NYSE:AIG) Given New $97.00 Price Target at Keefe, Bruyette & Woods

American International Group (NYSE:AIG) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $94.00 to $97.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 17.73% from the company’s previous close.

A number of other brokerages also recently commented on AIG. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Morgan Stanley raised their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, BMO Capital Markets upped their target price on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.88.

American International Group Trading Up 0.7 %

AIG opened at $82.39 on Thursday. The firm has a market capitalization of $47.48 billion, a P/E ratio of -39.61, a P/E/G ratio of 1.01 and a beta of 0.69. The firm’s 50 day moving average is $82.30 and its 200-day moving average is $77.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group has a 52-week low of $69.00 and a 52-week high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same quarter in the previous year, the business posted $1.25 EPS. Analysts expect that American International Group will post 6.24 EPS for the current fiscal year.

Insider Transactions at American International Group

In other news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at approximately $1,781,764. The trade was a 68.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. purchased a new position in shares of American International Group in the fourth quarter worth approximately $25,000. Asset Planning Inc acquired a new stake in American International Group during the 4th quarter valued at $26,000. Sachetta LLC lifted its holdings in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 249 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of American International Group in the fourth quarter worth $29,000. Finally, Hemington Wealth Management grew its holdings in shares of American International Group by 42.8% during the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock valued at $41,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds 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.