American International Group (NYSE:AIG) Coverage Initiated at Citigroup

Key Points

• Citigroup has initiated coverage of American International Group (NYSE:AIG) with a "neutral" rating and a price target of $85.00, indicating a potential upside of 8.28% from the stock's previous close.
• Other analysts have varied ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $87.75.
• American International Group recently reported quarterly earnings of $1.81 per share, exceeding expectations and reflecting a significant year-over-year growth.

Analysts at Citigroup initiated coverage on shares of American International Group (NYSE:AIG - Get Free Report) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a "neutral" rating and a $85.00 price target on the insurance provider's stock. Citigroup's price objective suggests a potential upside of 8.28% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley raised their target price on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Barclays raised their target price on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, William Blair raised shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.75.

American International Group Stock Down 0.2%

Shares of NYSE:AIG opened at $78.50 on Wednesday. The company has a market cap of $43.49 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. 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 has a 50 day simple moving average of $82.15 and a 200 day simple moving average of $81.26. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the business earned $1.16 EPS. As a group, research analysts expect that American International Group will post 6.24 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

Institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in shares of American International Group during the 4th quarter worth approximately $29,000. Sachetta LLC grew its holdings in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the period. GFG Capital LLC bought a new position in American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. bought a new position in American International Group in the second quarter valued at approximately $35,000. Finally, NewSquare Capital LLC lifted its stake in American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider's stock valued at $36,000 after buying an additional 154 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

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.

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