American International Group (NYSE:AIG) Price Target Raised to $89.00

American International Group (NYSE:AIG - Get Free Report) had its target price upped by Evercore ISI from $81.00 to $89.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the insurance provider's stock. Evercore ISI's price objective points to a potential upside of 12.90% from the company's current price.

AIG has been the subject of a number of other research reports. BMO Capital Markets increased their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a "market perform" rating in a report on Thursday, March 13th. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $87.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $79.00 target price (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Hsbc Global Res upgraded American International Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley boosted their price objective on American International Group from $75.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.12.

American International Group Price Performance

Shares of NYSE AIG traded down $7.37 during trading hours on Tuesday, hitting $78.83. 6,406,160 shares of the stock were exchanged, compared to its average volume of 4,399,570. American International Group has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a market cap of $46.77 billion, a PE ratio of -37.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company's fifty day simple moving average is $79.60 and its two-hundred day simple moving average is $76.34.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, sell-side analysts predict that American International Group will post 6.24 EPS for the current year.

Insider Activity

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On American International Group

A number of large investors have recently bought and sold shares of AIG. Duncker Streett & Co. Inc. bought a new position in shares of American International Group during the 4th quarter worth about $25,000. Asset Planning Inc bought a new position in American International Group in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new stake in American International Group in the fourth quarter valued at approximately $29,000. BankPlus Trust Department bought a new stake in shares of American International Group during the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of American International Group during the fourth quarter valued at approximately $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.