American International Group (NYSE:AIG - Get Free Report) had its price target raised by investment analysts at BMO Capital Markets from $87.00 to $90.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. BMO Capital Markets' price objective would indicate a potential upside of 19.78% from the company's current price.
Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $96.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. Bank of America upped their price target on shares of American International Group from $81.00 to $82.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Citigroup reduced their target price on shares of American International Group from $89.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, July 23rd. Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an "overweight" rating and a $90.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of American International Group from $89.00 to $86.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.94.
Read Our Latest Report on American International Group
Shares of NYSE AIG traded up $2.80 during midday trading on Friday, reaching $75.14. The company's stock had a trading volume of 943,040 shares, compared to its average volume of 4,149,211. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $73.90 and a 200 day moving average price of $75.54. American International Group has a one year low of $58.69 and a one year high of $80.83. The company has a market cap of $49.87 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06.
American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. On average, equities research analysts expect that American International Group will post 5.24 EPS for the current year.
In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company's stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.61% of the company's stock.
A number of institutional investors have recently modified their holdings of AIG. Cetera Investment Advisers lifted its position in shares of American International Group by 348.6% in the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider's stock valued at $4,506,000 after acquiring an additional 44,797 shares in the last quarter. Vinva Investment Management Ltd bought a new position in shares of American International Group during the 4th quarter worth about $1,699,000. OFI Invest Asset Management lifted its holdings in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider's stock valued at $710,000 after purchasing an additional 9,805 shares during the last quarter. Bessemer Group Inc. lifted its holdings in American International Group by 64.3% during the 1st quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider's stock valued at $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Finally, Coronation Fund Managers Ltd. bought a new position in American International Group during the 1st quarter valued at about $1,367,000. Institutional investors own 90.60% of the company's stock.
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.
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