American International Group (NYSE:AIG) Price Target Raised to $98.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised its price target on American International Group to $98 (from $97) and kept an "outperform" rating, implying roughly a 28% upside from the prior close.
• AIG reported $2.11 EPS for the quarter, topping estimates of $1.89, while the stock trades around $76.43 with a market cap near $40.5B and a P/E of about 13.5.
• Analyst coverage is mixed: MarketBeat shows a consensus target of $88 with one Strong Buy, seven Buys and twelve Holds, giving the company an overall "Hold" rating.

American International Group (NYSE:AIG - Get Free Report) had its target price hoisted by investment analysts at Keefe, Bruyette & Woods from $97.00 to $98.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 28.23% from the company's previous close.

Several other equities research analysts have also recently issued reports on AIG. Evercore lowered their price objective on American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. UBS Group lifted their price objective on American International Group from $92.00 to $94.00 and gave the stock a "buy" rating in a report on Monday. The Goldman Sachs Group lifted their price objective on American International Group from $87.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company lowered their price objective on American International Group from $86.00 to $85.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Morgan Stanley lowered their price objective on American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $88.00.

American International Group Stock Performance

NYSE AIG opened at $76.43 on Friday. The stock has a market capitalization of $40.52 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.75 and a beta of 0.53. 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 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $76.70 and a 200 day moving average of $77.77.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. The company had revenue of $7.02 billion during the quarter, compared to analysts' expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm posted $1.17 EPS. Sell-side analysts anticipate that American International Group will post 7.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Modus Advisors LLC acquired a new position in American International Group in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new position in American International Group in the fourth quarter valued at approximately $29,000. Westfuller Advisors LLC acquired a new position in American International Group in the third quarter valued at approximately $26,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group in the fourth quarter valued at approximately $29,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 355 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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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