American International Group (NYSE:AIG) Price Target Raised to $95.00

American International Group (NYSE:AIG) had its price target upped by research analysts at Barclays from $93.00 to $95.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price objective indicates a potential upside of 22.38% from the stock’s previous close.

Several other analysts have also issued reports on AIG. Keefe, Bruyette & Woods cut their price target on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Piper Sandler lowered their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Morgan Stanley lowered their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of American International Group in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

American International Group Stock Performance

NYSE:AIG traded down $3.08 during mid-day trading on Wednesday, hitting $77.63. 2,593,037 shares of the company traded hands, compared to its average volume of 4,496,202. The stock’s fifty day moving average price is $79.45 and its 200-day moving average price is $81.28. American International Group has a one year low of $69.24 and a one year high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market cap of $43.01 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68.

American International Group (NYSE:AIG) last released its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The business had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Research analysts anticipate that American International Group will post 6.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Patton Fund Management Inc. purchased a new stake in American International Group during the second quarter valued at approximately $232,000. AIA Group Ltd raised its position in American International Group by 169.6% during the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock valued at $901,000 after purchasing an additional 6,523 shares during the period. Townsquare Capital LLC raised its position in American International Group by 5.4% during the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock valued at $10,009,000 after purchasing an additional 5,899 shares during the period. Truist Financial Corp raised its position in American International Group by 11.5% during the second quarter. Truist Financial Corp now owns 77,757 shares of the insurance provider’s stock valued at $6,655,000 after purchasing an additional 7,997 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in shares of American International Group by 7.4% in the second quarter. AustralianSuper Pty Ltd now owns 1,082,755 shares of the insurance provider’s stock worth $92,673,000 after buying an additional 74,402 shares during the period. 90.60% of the stock is owned by institutional investors.

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.