Mizuho Cuts American International Group (NYSE:AIG) Price Target to $83.00

American International Group (NYSE:AIG) had its target price lowered by equities researchers at Mizuho from $84.00 to $83.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price target would suggest a potential upside of 12.16% from the company’s previous close.

AIG has been the topic of several other research reports. Wolfe Research started coverage on American International Group in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald cut their price objective on American International Group from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. Barclays decreased their target price on shares of American International Group from $88.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company upped their price target on shares of American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Piper Sandler increased their price objective on shares of American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.68.

American International Group Stock Performance

Shares of American International Group stock traded up $0.96 on Wednesday, hitting $74.00. 7,061,934 shares of the company’s stock were exchanged, compared to its average volume of 7,914,197. American International Group has a 1 year low of $71.74 and a 1 year high of $88.07. The company has a 50-day simple moving average of $79.76 and a 200-day simple moving average of $79.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $39.93 billion, a PE ratio of 13.45, a PEG ratio of 0.69 and a beta of 0.62.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same period in the prior year, the business posted $1.23 EPS. As a group, equities analysts anticipate that American International Group will post 6.24 EPS for the current year.

Hedge Funds Weigh In On American International Group

Institutional investors have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC boosted its position in shares of American International Group by 2.4% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after acquiring an additional 126 shares during the last quarter. Monument Capital Management raised its stake in American International Group by 3.5% during the second quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after purchasing an additional 129 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after purchasing an additional 130 shares during the last quarter. Finally, First Bank & Trust grew its stake in shares of American International Group by 2.2% in the 3rd quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors 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.