American International Group (NYSE:AIG) Price Target Raised to $94.00

Key Points

• HSBC raised its price target on American International Group to $94.00 (from $89), maintaining a "buy" rating and implying about a 21.1% upside from the prior close.
• Analyst views are mixed—one Strong Buy, seven Buy and twelve Hold—leaving a consensus rating of "Hold" with a consensus price target of $87.71, after several firms both raised and cut their targets recently.
• AIG recently beat EPS estimates ($2.11 vs. $1.89), and the stock trades around $77.63 (52-week range $71.25–$87.46), below most analyst targets and with a market cap near $41.7 billion.

American International Group (NYSE:AIG - Get Free Report) had its price target increased by equities research analysts at HSBC from $89.00 to $94.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the insurance provider's stock. HSBC's price objective points to a potential upside of 21.10% from the stock's previous close.

Several other equities analysts also recently issued reports on the company. Evercore cut their target price on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. JPMorgan Chase & Co. cut their price objective on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. UBS Group raised their price objective on American International Group from $92.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday. Citigroup upped their target price on American International Group from $85.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Barclays increased their price target on shares of American International Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, American International Group has a consensus rating of "Hold" and a consensus price target of $87.71.

American International Group Price Performance

American International Group stock opened at $77.63 on Monday. American International Group has a 52-week low of $71.25 and a 52-week high of $87.46. The company has a market cap of $41.68 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.60 and a beta of 0.53. The firm's fifty day moving average is $76.85 and its 200 day moving average is $77.79. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. The company had revenue of $7.02 billion during the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.88% and a net margin of 11.86%.During the same quarter last year, the business posted $1.17 earnings per share. Sell-side analysts forecast that American International Group will post 7.75 EPS for the current fiscal year.

Hedge Funds Weigh In On American International Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Modus Advisors LLC purchased a new stake in shares of American International Group in the 4th quarter valued at approximately $27,000. Navalign LLC purchased a new position in shares of American International Group during the fourth quarter worth approximately $29,000. Westfuller Advisors LLC acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Mcguire Capital Advisors Inc. acquired a new position in shares of American International Group in the 4th quarter valued at $29,000. Finally, Atlantic Union Bankshares Corp raised its position in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Company Profile

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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