American International Group (NYSE:AIG) Price Target Raised to $90.00

Key Points

• Evercore ISI has raised its price target for American International Group (AIG) from $89.00 to $90.00, indicating a potential upside of 14.66% from the previous close.
• AIG reported $1.81 earnings per share for the last quarter, exceeding analysts' estimates of $1.60, while revenue was slightly below expectations at $6.77 billion.
• The stock currently has an average rating of "Moderate Buy" from analysts, with two strong buy ratings, seven buy ratings, and ten hold ratings contributing to its outlook.

American International Group (NYSE:AIG - Get Free Report) had its price objective lifted by analysts at Evercore ISI from $89.00 to $90.00 in a report released on Wednesday,MarketScreener reports. Evercore ISI's price objective points to a potential upside of 14.66% from the stock's previous close.

AIG has been the topic of several other reports. William Blair raised American International Group to a "strong-buy" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Cfra Research raised shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Citigroup assumed coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target on the stock. Finally, Wall Street Zen downgraded shares of American International Group from a "buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.33.

American International Group Stock Up 0.8%

Shares of NYSE:AIG opened at $78.49 on Wednesday. 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 market capitalization of $43.49 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.83 and a beta of 0.70. The firm has a fifty day moving average of $79.26 and a 200 day moving average of $81.76. 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 announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same period last year, the firm earned $1.16 earnings per share. As a group, research analysts anticipate that American International Group will post 6.24 EPS for the current fiscal year.

Hedge Funds Weigh In On American International Group

Institutional investors have recently modified their holdings of the company. National Wealth Management Group LLC purchased a new position in shares of American International Group in the 2nd quarter valued at $614,000. Valeo Financial Advisors LLC increased its stake in shares of American International Group by 6.5% during the second quarter. Valeo Financial Advisors LLC now owns 13,099 shares of the insurance provider's stock valued at $1,121,000 after acquiring an additional 794 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of American International Group during the second quarter worth $227,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of American International Group in the second quarter worth $544,000. Finally, Marex Group plc acquired a new stake in shares of American International Group during the 2nd quarter valued at $311,000. Institutional investors and hedge funds own 90.60% of the company's stock.

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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