The Goldman Sachs Group Lowers American International Group (NYSE:AIG) Price Target to $84.00

American International Group (NYSE:AIG) had its price target reduced by equities research analysts at The Goldman Sachs Group from $86.00 to $84.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the insurance provider’s stock. The Goldman Sachs Group’s target price points to a potential upside of 10.85% from the company’s previous close.

AIG has been the topic of several other research reports. Morgan Stanley cut their price objective on American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Citigroup assumed coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price target on the stock. William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

American International Group Stock Up 0.0%

American International Group stock opened at $75.78 on Wednesday. American International Group has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day simple moving average is $78.60 and its 200 day simple moving average is $80.88. The stock has a market cap of $40.89 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter last year, the firm earned $1.23 EPS. Research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GQG Partners LLC raised its stake in shares of American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after buying an additional 18,852,949 shares during the last quarter. Capital Research Global Investors grew its holdings in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after acquiring an additional 12,645,616 shares during the period. Norges Bank purchased a new position in American International Group during the second quarter valued at approximately $787,724,000. Vanguard Group Inc. lifted its holdings in American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Finally, Nuveen LLC purchased a new stake in American International Group in the 1st quarter worth approximately $440,273,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

About American International Group

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.