Bank of America Boosts American International Group (NYSE:AIG) Price Target to $86.00

American International Group (NYSE:AIG) had its price target hoisted by Bank of America from $82.00 to $86.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price target indicates a potential upside of 12.79% from the company’s current price.

A number of other analysts have also recently commented on AIG. Piper Sandler reduced their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Evercore ISI lowered their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday. BMO Capital Markets increased their price target on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley lowered their target price 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. Finally, JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $93.00 to $89.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.50.

American International Group Stock Up 0.9 %

NYSE AIG traded up $0.65 during trading hours on Thursday, reaching $76.25. 832,397 shares of the company’s stock traded hands, compared to its average volume of 4,141,842. The firm has a market cap of $50.60 billion, a PE ratio of 11.38, a PEG ratio of 3.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group has a 52-week low of $58.69 and a 52-week high of $80.83. The firm has a 50-day simple moving average of $73.63 and a 200 day simple moving average of $75.50.

American International Group (NYSE:AIG) last issued 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). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Sell-side analysts anticipate that American International Group will post 5.24 EPS for the current fiscal year.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. 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 through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

A number of large investors have recently bought and sold shares of AIG. Christopher J. Hasenberg Inc acquired a new stake in shares of American International Group during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC grew its holdings in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of American International Group in the second quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in American International Group in the 1st quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during 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 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.