American International Group (NYSE:AIG) Price Target Raised to $87.00

Key Points

• Royal Bank of Canada raised AIG’s price target from $85 to $87 while maintaining a “sector perform” rating, implying 12.55% potential upside from the $77.30 share price.
• Analyst sentiment remains mixed: AIG has an average “Hold” rating and a consensus price target of $88.17, with targets ranging from $80 to $98.
• AIG reported quarterly EPS of $2.00, beating expectations of $1.92, although revenue of $7.08 billion fell short of the $7.25 billion estimate. Institutional investors own 90.6% of the company.

American International Group (NYSE:AIG - Get Free Report) had its price target boosted by analysts at Royal Bank Of Canada from $85.00 to $87.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the insurance provider's stock. Royal Bank Of Canada's price objective points to a potential upside of 12.55% from the company's current price.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reissued a "market perform" rating and set a $85.00 price target on shares of American International Group in a research report on Monday. UBS Group upped their price objective on American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Barclays raised their target price on shares of American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday. Keefe, Bruyette & Woods lowered their target price on shares of American International Group from $98.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $80.00 price target (down from $88.00) on shares of American International Group in a research note on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, American International Group has an average rating of "Hold" and a consensus target price of $88.17.

American International Group Stock Down 1.9%

NYSE:AIG traded down $1.48 on Monday, hitting $77.30. 647,105 shares of the company's stock were exchanged, compared to its average volume of 4,344,310. The firm has a 50-day moving average price of $77.28 and a 200-day moving average price of $76.77. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $40.99 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.52.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations 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 last year, the company earned $1.81 EPS. As a group, analysts expect that American International Group will post 7.99 EPS for the current fiscal year.

Institutional Investors Weigh In On American International Group

Hedge funds have recently added to or reduced their stakes in the business. Modus Advisors LLC bought a new position in shares of American International Group in the fourth quarter valued at about $27,000. Navalign LLC acquired a new position in American International Group in the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group in the 4th quarter valued at about $29,000. SHP Wealth Management bought a new position in American International Group in the 4th quarter valued at about $34,000. Finally, CENTRAL TRUST Co raised its holdings in American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 151 shares during the period. Institutional investors and hedge funds 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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