American International Group (NYSE:AIG) PT Raised to $88.00 at Jefferies Financial Group

American International Group (NYSE:AIG) had its target price boosted by investment analysts at Jefferies Financial Group from $82.00 to $88.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 16.36% from the company’s previous close.

A number of other analysts have also weighed in on AIG. Piper Sandler cut their price objective on 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. TD Cowen cut 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. Wells Fargo & Company cut their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets upped their price objective on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus price target of $84.50.

American International Group Trading Up 1.3 %

NYSE:AIG traded up $1.00 during trading hours on Wednesday, reaching $75.63. 742,675 shares of the stock were exchanged, compared to its average volume of 4,149,807. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $73.70 and a two-hundred day moving average of $75.50. American International Group has a twelve month low of $58.69 and a twelve month high of $80.83. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of 11.29, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the company earned $1.75 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts predict that American International Group will post 5.24 EPS for the current year.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 279,238,898 shares in the company, 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 SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American International Group

Several hedge funds have recently made changes to their positions in the business. Garner Asset Management Corp lifted its position in American International Group by 36.6% in the fourth quarter. Garner Asset Management Corp now owns 5,075 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 1,360 shares during the period. Third Point LLC lifted its position in American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after purchasing an additional 500,000 shares during the period. Troluce Capital Advisors LLC lifted its position in American International Group by 149.1% in the fourth quarter. Troluce Capital Advisors LLC now owns 540,000 shares of the insurance provider’s stock valued at $36,585,000 after purchasing an additional 323,236 shares during the period. Clear Street Markets LLC lifted its position in American International Group by 970,000.0% in the fourth quarter. Clear Street Markets LLC now owns 9,701 shares of the insurance provider’s stock valued at $657,000 after purchasing an additional 9,700 shares during the period. Finally, DRW Securities LLC lifted its position in American International Group by 34.0% in the fourth quarter. DRW Securities LLC now owns 28,636 shares of the insurance provider’s stock valued at $1,940,000 after purchasing an additional 7,273 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.