Evercore ISI Increases American International Group (NYSE:AIG) Price Target to $81.00

American International Group (NYSE:AIG) had its price objective lifted by analysts at Evercore ISI from $80.00 to $81.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s target price suggests a potential upside of 3.21% from the stock’s current price.

Several other analysts have also weighed in on AIG. BMO Capital Markets decreased their price objective on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Wells Fargo & Company increased their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Bank of America lowered shares of American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Citigroup upped their price objective on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.44.

American International Group Stock Up 0.5 %

AIG opened at $78.48 on Friday. The business has a 50 day moving average of $75.39 and a 200-day moving average of $69.47. The stock has a market capitalization of $53.44 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.12 and a beta of 1.02. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 1-year low of $48.95 and a 1-year high of $79.70.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period last year, the business posted $1.63 EPS. As a group, sell-side analysts anticipate that American International Group will post 6.95 earnings per share for the current year.

American International Group declared that its board has initiated a stock repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Inglis acquired 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several hedge funds have recently added to or reduced their stakes in AIG. Valued Wealth Advisors LLC increased its stake in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new stake in American International Group in the first quarter worth $29,000. OFI Invest Asset Management bought a new position in shares of American International Group during the third quarter worth $26,000. CENTRAL TRUST Co grew its holdings in shares of American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after buying an additional 250 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.