American International Group (NYSE:AIG) Price Target Raised to $89.00 at Piper Sandler

American International Group (NYSE:AIG) had its price objective upped by equities researchers at Piper Sandler from $87.00 to $89.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 19.67% from the company’s previous close.

Several other brokerages also recently issued reports on AIG. Keefe, Bruyette & Woods increased their price target on American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price target on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, TD Cowen initiated coverage on shares of American International Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.18.

American International Group Trading Up 1.9 %

Shares of NYSE:AIG traded up $1.38 during mid-day trading on Friday, reaching $74.37. The stock had a trading volume of 1,521,462 shares, compared to its average volume of 3,954,868. The firm has a 50 day simple moving average of $74.10 and a two-hundred day simple moving average of $68.33. American International Group has a twelve month low of $48.95 and a twelve month high of $78.95. The firm has a market cap of $50.64 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the business posted $1.36 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts predict that American International Group will post 7.03 EPS for the current fiscal year.

Insider Buying and Selling at American International Group

In related news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of American International Group during the fourth quarter valued at approximately $736,063,000. Morgan Stanley grew its stake in shares of American International Group by 55.1% in the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock worth $665,247,000 after acquiring an additional 3,738,346 shares in the last quarter. Sessa Capital IM L.P. purchased a new stake in shares of American International Group in the first quarter valued at about $73,040,000. Deutsche Bank AG grew its position in American International Group by 58.1% in the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock worth $185,677,000 after purchasing an additional 1,354,652 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in American International Group in the 1st quarter valued at about $57,511,000. 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.