Jefferies Financial Group Cuts American International Group (NYSE:AIG) Price Target to $96.00

American International Group (NYSE:AIG) had its target price reduced by analysts at Jefferies Financial Group from $99.00 to $96.00 in a research note issued on Friday,MarketScreener reports. Jefferies Financial Group’s target price would suggest a potential upside of 25.00% from the company’s previous close.

A number of other equities research analysts also recently weighed in on AIG. Cantor Fitzgerald raised American International Group to a “hold” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Piper Sandler reduced their price target on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Finally, UBS Group raised their target price on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.93.

American International Group Stock Performance

AIG opened at $76.80 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group has a 52-week low of $69.24 and a 52-week high of $88.07. The firm has a market cap of $42.55 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The business’s fifty day moving average is $79.13 and its 200-day moving average is $81.19.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the prior year, the company posted $1.23 earnings per share. Sell-side analysts expect that American International Group will post 6.24 EPS for the current fiscal year.

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently modified their holdings of AIG. Vanguard Group Inc. increased its stake in shares of American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares in the last quarter. GQG Partners LLC grew its holdings in American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the period. Franklin Resources Inc. increased its stake in American International Group by 6.1% in the second quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of American International Group by 4.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. Finally, Norges Bank bought a new stake in shares of American International Group during the second quarter valued at approximately $787,724,000. 90.60% of the stock is currently 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.