American International Group (NYSE:AIG) Price Target Lowered to $79.00 at Bank of America

Key Points

• Bank of America cut its AIG price target to $79.00 from $80.00 and kept a "neutral" rating, implying roughly a 2.41% upside from the current share price.
• Several other brokerages have trimmed targets recently (Wells Fargo, Piper Sandler, Evercore, HSBC, UBS), and MarketBeat's consensus rating is Hold with a consensus price target of $87.41 (1 Strong Buy, 7 Buy, 12 Hold).
• AIG recently reported quarterly EPS of $1.96 (beating estimates) with revenue below expectations; the stock trades around $77.14 with a 12‑month range of $71.25–$87.46 and a market cap of about $41.4 billion.

American International Group (NYSE:AIG - Get Free Report) had its price objective cut by equities researchers at Bank of America from $80.00 to $79.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a "neutral" rating on the insurance provider's stock. Bank of America's target price would indicate a potential upside of 2.41% from the stock's current price.

Several other equities research analysts have also commented on AIG. Wells Fargo & Company lowered their price target on shares of American International Group from $87.00 to $86.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Piper Sandler decreased their price objective on American International Group from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, February 12th. Evercore lowered their target price on American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. HSBC dropped their target price on American International Group from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, UBS Group decreased their price target on American International Group from $94.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, American International Group has a consensus rating of "Hold" and a consensus price target of $87.41.

American International Group Price Performance

Shares of NYSE:AIG opened at $77.14 on Tuesday. American International Group has a twelve month low of $71.25 and a twelve month high of $87.46. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.42 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.60 and a beta of 0.59. The company's 50 day moving average is $77.19 and its 200 day moving average is $78.23.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The insurance provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.90 by $0.06. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts forecast that American International Group will post 6.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in American International Group by 11.6% during 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 purchasing an additional 7,117,583 shares in the last quarter. Capital Research Global Investors raised its position in shares of American International Group by 79.6% during the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP lifted its stake in American International Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock valued at $2,045,657,000 after buying an additional 1,899,203 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock worth $1,400,613,000 after buying an additional 4,661,246 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

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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