American International Group (NYSE:AIG) Given New $78.00 Price Target at Evercore ISI

American International Group (NYSE:AIG) had its price objective cut by analysts at Evercore ISI from $79.00 to $78.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s price target would suggest a potential upside of 4.50% from the company’s previous close.

Several other analysts also recently commented on the stock. Bank of America increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. TD Cowen lowered their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. BMO Capital Markets increased their target price on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley dropped their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.27.

American International Group Stock Performance

NYSE:AIG opened at $74.64 on Wednesday. The business has a 50 day moving average price of $73.70 and a 200-day moving average price of $75.50. American International Group has a fifty-two week low of $58.69 and a fifty-two week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $49.54 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 3.70 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings results 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). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s revenue was up .0% on a year-over-year basis. Equities research analysts predict that American International Group will post 5.24 earnings per share for the current year.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of large investors have recently bought and sold shares of AIG. Fortitude Family Office LLC raised its position in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares in the last quarter. Y.D. More Investments Ltd bought a new position in American International Group in the second quarter worth about $27,000. Rise Advisors LLC purchased a new stake in shares of American International Group during the first quarter valued at about $29,000. Valued Wealth Advisors LLC lifted its position in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the last quarter. Institutional investors 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.