JPMorgan Chase & Co. Lowers American International Group (NYSE:AIG) Price Target to $83.00

American International Group (NYSE:AIG) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $89.00 to $83.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.00% from the stock’s previous close.

AIG has been the topic of a number of other reports. Bank of America lifted their price objective on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Jefferies Financial Group upped their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Wednesday, November 6th. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.40.

American International Group Stock Down 0.2 %

AIG stock opened at $72.81 on Friday. The firm has a market cap of $45.42 billion, a PE ratio of -21.48, a PEG ratio of 7.30 and a beta of 1.05. American International Group has a 1 year low of $66.06 and a 1 year high of $80.83. The company has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $74.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $1.61 earnings per share. Sell-side analysts anticipate that American International Group will post 5.12 EPS for the current fiscal year.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of AIG. Farther Finance Advisors LLC raised its stake in shares of American International Group by 19.5% during the second quarter. Farther Finance Advisors LLC now owns 3,602 shares of the insurance provider’s stock worth $268,000 after buying an additional 589 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of American International Group by 6.1% in the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after purchasing an additional 54,419 shares during the last quarter. Candriam S.C.A. grew its stake in shares of American International Group by 254.9% during the second quarter. Candriam S.C.A. now owns 314,316 shares of the insurance provider’s stock worth $23,334,000 after purchasing an additional 225,763 shares during the period. Intelligence Driven Advisers LLC increased its holdings in American International Group by 12.1% in the second quarter. Intelligence Driven Advisers LLC now owns 2,956 shares of the insurance provider’s stock valued at $219,000 after purchasing an additional 320 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in American International Group by 868.5% in the second quarter. Los Angeles Capital Management LLC now owns 34,944 shares of the insurance provider’s stock valued at $2,594,000 after buying an additional 31,336 shares during the period. Institutional investors and hedge funds 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.