American International Group (NYSE:AIG) Issues Earnings Results

American International Group (NYSE:AIG) released its quarterly earnings data on Thursday. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08, Zacks reports. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the prior year, the company earned $1.81 EPS.

American International Group Stock Performance

Shares of AIG traded down $0.32 during midday trading on Thursday, reaching $79.80. 3,093,140 shares of the stock were exchanged, compared to its average volume of 3,246,744. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $42.31 billion, a P/E ratio of 14.07, a PEG ratio of 0.74 and a beta of 0.53. The stock’s 50 day simple moving average is $77.19 and its 200 day simple moving average is $76.73.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently modified their holdings of the business. Mcguire Capital Advisors Inc. bought a new position in American International Group during the fourth quarter worth about $29,000. JPL Wealth Management LLC bought a new stake in American International Group in the 3rd quarter valued at about $39,000. Jessup Wealth Management Inc acquired a new position in shares of American International Group during the 4th quarter worth approximately $40,000. Atlas Capital Advisors Inc. acquired a new position in shares of American International Group during the 4th quarter worth approximately $50,000. Finally, DV Equities LLC acquired a new position in shares of American International Group during the 4th quarter worth approximately $65,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AIG. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target (down from $88.00) on shares of American International Group in a research note on Wednesday, July 15th. Cantor Fitzgerald raised shares of American International Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $92.00 in a report on Thursday, July 9th. HSBC lowered their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Wells Fargo & Company boosted their price objective on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.22.

About American International Group

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.