American International Group (NYSE:AIG) Price Target Cut to $85.00 by Analysts at The Goldman Sachs Group

American International Group (NYSE:AIG) had its target price cut by analysts at The Goldman Sachs Group from $90.00 to $85.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 13.06% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Barclays lifted their price objective on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Citigroup increased their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, BMO Capital Markets raised their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $87.78.

American International Group Stock Performance

Shares of NYSE:AIG opened at $75.18 on Monday. The business’s 50-day simple moving average is $76.04 and its 200 day simple moving average is $77.44. The company has a market cap of $39.86 billion, a P/E ratio of 13.21, a PEG ratio of 0.69 and a beta of 0.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a one year low of $71.25 and a one year high of $87.46.

American International Group (NYSE:AIG) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the company earned $1.17 earnings per share. On average, sell-side analysts forecast that American International Group will post 7.99 earnings per share for the current fiscal year.

Institutional Trading of American International Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Modus Advisors LLC acquired a new position in shares of American International Group in the 4th quarter worth approximately $27,000. Navalign LLC bought a new stake in American International Group during the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group in the 4th quarter valued at about $29,000. Atlantic Union Bankshares Corp grew its holdings in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after buying an additional 355 shares in the last quarter. Finally, SHP Wealth Management bought a new position in shares of American International Group during the fourth quarter valued at about $34,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.