American International Group (NYSE:AIG) Price Target Raised to $90.00

American International Group (NYSE:AIG) had its target price hoisted by analysts at JPMorgan Chase & Co. from $86.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.58% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Citigroup lifted 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 note on Monday, May 4th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings upgraded American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. HSBC dropped their price objective on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, The Goldman Sachs Group boosted their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American International Group has an average rating of “Hold” and a consensus price target of $88.22.

American International Group Stock Performance

NYSE AIG traded down $0.56 on Monday, reaching $79.94. 182,951 shares of the company’s stock traded hands, compared to its average volume of 4,463,392. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $42.39 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.74 and a beta of 0.53. The stock has a 50 day moving average price of $76.42 and a 200-day moving average price of $76.65.

American International Group (NYSE:AIG) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates 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 business earned $1.17 earnings per share. Equities research analysts predict that American International Group will post 8 EPS for the current fiscal year.

Hedge Funds Weigh In On American International Group

Large investors have recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC purchased a new position in shares of American International Group in the 2nd quarter worth about $202,000. Tema ETFs LLC increased its stake in American International Group by 10.6% during the 2nd quarter. Tema ETFs LLC now owns 15,126 shares of the insurance provider’s stock worth $1,127,000 after buying an additional 1,450 shares during the period. Handelsbanken Fonder AB increased its position in shares of American International Group by 59.0% during the second quarter. Handelsbanken Fonder AB now owns 194,586 shares of the insurance provider’s stock worth $14,502,000 after acquiring an additional 72,180 shares during the last quarter. Rockland Trust Co. boosted its stake in shares of American International Group by 8.5% during the 2nd quarter. Rockland Trust Co. now owns 36,761 shares of the insurance provider’s stock valued at $2,740,000 after buying an additional 2,894 shares during the last quarter. Finally, Czech National Bank grew its holdings in American International Group by 3.3% during the 2nd quarter. Czech National Bank now owns 150,917 shares of the insurance provider’s stock worth $11,248,000 after acquiring an additional 4,787 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other 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.