American International Group (NYSE:AIG) Stock Gets Price Target Increase from UBS Group

American International Group (NYSE:AIG) had its target price increased by equities researchers at UBS Group from $98.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. UBS Group’s price objective would suggest a potential upside of 32.16% from the stock’s current price.

A number of other brokerages have also weighed in on AIG. Wells Fargo & Company lowered their target price on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Cantor Fitzgerald lowered their price objective on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. The Goldman Sachs Group boosted their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley reduced their target price on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.11.

American International Group Stock Performance

NYSE:AIG opened at $75.66 on Tuesday. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The firm has a 50 day moving average of $76.24 and a 200-day moving average of $76.44. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $39.56 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52.

American International Group (NYSE:AIG) last announced its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the business earned $1.81 EPS. As a group, sell-side analysts anticipate that American International Group will post 8.01 EPS for the current fiscal year.

Insider Transactions at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several large investors have recently bought and sold shares of AIG. Lee Danner & Bass Inc. lifted its position in American International Group by 194.2% in the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock valued at $2,542,000 after acquiring an additional 22,300 shares in the last quarter. Swiss National Bank increased its holdings in American International Group by 4.3% during the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock worth $119,163,000 after purchasing an additional 65,400 shares in the last quarter. KBC Group NV raised its stake in shares of American International Group by 5.8% in the 1st quarter. KBC Group NV now owns 343,754 shares of the insurance provider’s stock valued at $25,868,000 after purchasing an additional 18,812 shares during the period. Algebris UK Ltd. raised its stake in shares of American International Group by 98.4% in the 2nd quarter. Algebris UK Ltd. now owns 1,235,231 shares of the insurance provider’s stock valued at $91,772,000 after purchasing an additional 612,790 shares during the period. Finally, Amundi lifted its holdings in shares of American International Group by 14.6% in the first quarter. Amundi now owns 1,825,586 shares of the insurance provider’s stock valued at $137,375,000 after purchasing an additional 232,842 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.