Mizuho Cuts American International Group (NYSE:AIG) Price Target to $85.00

American International Group (NYSE:AIG) had its target price lowered by equities researchers at Mizuho from $86.00 to $85.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price target would indicate a potential upside of 12.23% from the company’s current price.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company decreased their price target on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Royal Bank Of Canada upped their target price on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Barclays boosted their price target on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. UBS Group raised their price objective on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Eight analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $88.16.

American International Group Trading Down 0.3%

American International Group stock traded down $0.25 during mid-day trading on Wednesday, hitting $75.73. 328,546 shares of the stock were exchanged, compared to its average volume of 4,228,691. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.86 and a beta of 0.50. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $77.59 and its two-hundred day simple moving average is $76.76.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the firm posted $1.81 EPS. Analysts forecast that American International Group will post 8.02 EPS for the current year.

Insider Activity

In other news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. L2 Asset Management LLC increased its position in shares of American International Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 139 shares during the last quarter. Larson Financial Group LLC increased its position in shares of American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 140 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of American International Group by 1.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares during the period. CENTRAL TRUST Co grew its position in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after buying an additional 151 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in American International Group by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 3,828 shares of the insurance provider’s stock worth $328,000 after buying an additional 156 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.