American International Group (NYSE:AIG) Price Target Cut to $81.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut AIG’s price target from $82 to $81 while maintaining an “equal weight” rating, implying 5.69% potential upside from the stock’s $76.64 price.
• Analyst sentiment remains mixed: AIG has an average “Hold” rating and an average price target of $88.39, with seven Buy ratings and twelve Holds.
• AIG exceeded quarterly earnings expectations, reporting $2.00 in EPS versus the $1.92 consensus estimate, although revenue of $7.08 billion fell short of the $7.25 billion forecast.

American International Group (NYSE:AIG - Get Free Report) had its price target dropped by equities researchers at Morgan Stanley from $82.00 to $81.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's price objective suggests a potential upside of 5.69% from the company's current price.

Other analysts have also issued research reports about the company. Mizuho raised their price target on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Barclays boosted their price objective on shares of American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Cantor Fitzgerald raised shares of American International Group from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $85.00 to $92.00 in a research report on Thursday, July 9th. The Goldman Sachs Group lifted their target price on shares of American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, American International Group currently has an average rating of "Hold" and an average target price of $88.39.

American International Group Trading Down 0.9%

Shares of NYSE AIG traded down $0.67 during trading hours on Wednesday, hitting $76.64. The company's stock had a trading volume of 485,818 shares, compared to its average volume of 4,334,084. 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 stock has a market cap of $40.63 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.71 and a beta of 0.52. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The business has a 50-day simple moving average of $77.43 and a 200-day simple moving average of $76.84.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.03% and a net margin of 11.13%.During the same quarter in the prior year, the company posted $1.81 EPS. On average, analysts anticipate that American International Group will post 7.99 earnings per share for the current fiscal year.

Institutional Trading of American International Group

Several institutional investors have recently bought and sold shares of AIG. Norges Bank purchased a new stake in shares of American International Group during the fourth quarter valued at $636,782,000. Bank of New York Mellon Corp purchased a new position in American International Group in the 2nd quarter worth about $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in American International Group during the 2nd quarter valued at about $464,539,000. Price T Rowe Associates Inc. MD lifted its stake in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

About American International Group

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.

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