American International Group (NYSE:AIG) PT Raised to $89.00

American International Group (NYSE:AIG) had its price objective raised by equities researchers at Piper Sandler from $87.00 to $89.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective points to a potential upside of 19.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. HSBC started coverage on American International Group in a research report on Thursday, December 28th. They set a “buy” rating and a $86.00 target price for the company. UBS Group lifted their price target on shares of American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets decreased 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 report on Thursday, February 15th. Keefe, Bruyette & Woods increased 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 note on Wednesday, April 10th. Finally, Royal Bank of Canada upped their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $79.18.

American International Group Stock Performance

American International Group stock traded up $1.38 during midday trading on Friday, reaching $74.37. 1,521,462 shares of the company traded hands, compared to its average volume of 3,954,868. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. American International Group has a 12 month low of $48.95 and a 12 month high of $78.95. The firm has a market capitalization of $50.64 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The business has a 50 day moving average of $74.10 and a two-hundred day moving average of $68.33.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business posted $1.36 EPS. As a group, research analysts predict that American International Group will post 7.03 earnings per share for the current year.

Insider Activity at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other American International Group news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On American International Group

A number of institutional investors and hedge funds have recently made changes to their positions in AIG. Nordea Investment Management AB lifted its position in shares of American International Group by 18.7% during the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after purchasing an additional 319,948 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after acquiring an additional 77,874 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 21,279 shares during the last quarter. Tritonpoint Wealth LLC acquired a new position in American International Group in the fourth quarter valued at approximately $1,072,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in American International Group by 12.9% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 581,239 shares of the insurance provider’s stock valued at $39,379,000 after purchasing an additional 66,603 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.