BMO Capital Markets Forecasts Strong Price Appreciation for American International Group (NYSE:AIG) Stock

American International Group (NYSE:AIG) had its price target hoisted by analysts at BMO Capital Markets from $75.00 to $83.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target points to a potential downside of 0.45% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased 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, February 14th. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Wednesday, March 5th. Morgan Stanley increased their price objective on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 price objective (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Finally, UBS Group lowered their price target on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Trading Up 2.2 %

NYSE:AIG opened at $83.37 on Thursday. The company has a market cap of $49.47 billion, a P/E ratio of -40.08, a P/E/G ratio of 1.01 and a beta of 0.98. The stock’s fifty day moving average price is $76.25 and its two-hundred day moving average price is $75.30. American International Group has a 1 year low of $69.00 and a 1 year high of $83.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, analysts expect that American International Group will post 6.24 EPS for the current year.

Insider Buying and Selling

In other American International Group news, Director John G. Rice bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is owned by insiders.

Institutional Trading of American International Group

Several large investors have recently modified their holdings of AIG. Capital Research Global Investors lifted its holdings in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after buying an additional 482,724 shares during the period. Wellington Management Group LLP lifted its holdings in American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after buying an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after buying an additional 461,912 shares during the period. Franklin Resources Inc. lifted its holdings in American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after buying an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new stake in American International Group in the fourth quarter worth about $718,013,000. 90.60% of the stock is owned by institutional investors.

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.