American International Group (NYSE:AIG) Price Target Cut to $80.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut AIG’s price target from $81 to $80 while maintaining an “equal weight” rating, implying approximately 6.38% upside from the prior close.
• Analyst sentiment remains mixed but leans neutral: AIG has eight Buy ratings and ten Holds, with a consensus price target of $88.21.
• AIG shares traded near $75.20, while the company’s latest quarterly earnings beat expectations with adjusted EPS of $2.00 versus the $1.92 consensus estimate.

American International Group (NYSE:AIG - Get Free Report) had its target price dropped by Morgan Stanley from $81.00 to $80.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the insurance provider's stock. Morgan Stanley's target price would suggest a potential upside of 6.38% from the company's previous close.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on American International Group from $89.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, August 10th. Keefe, Bruyette & Woods upped their target price on American International Group from $95.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Piper Sandler increased their target price on shares of American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Royal Bank Of Canada raised their price target on shares of American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $88.21.

American International Group Trading Up 0.1%

Shares of NYSE:AIG traded up $0.09 during mid-day trading on Tuesday, reaching $75.20. 2,109,127 shares of the company's stock were exchanged, compared to its average volume of 4,309,455. The firm has a market capitalization of $39.32 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.80 and a beta of 0.52. The business's fifty day moving average price is $76.45 and its 200-day moving average price is $76.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period in the prior year, the business posted $1.81 earnings per share. On average, research analysts predict that American International Group will post 8.04 EPS for the current fiscal year.

Insider Activity

In other news, insider Peter Zaffino sold 200,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company's stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American International Group

Several large investors have recently added to or reduced their stakes in AIG. Ridgewood Investments LLC purchased a new stake in American International Group in the 3rd quarter valued at $392,000. Baker Tilly Wealth Management LLC grew its stake in shares of American International Group by 50.5% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 7,994 shares of the insurance provider's stock worth $595,000 after acquiring an additional 2,682 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of American International Group by 0.3% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 623,972 shares of the insurance provider's stock worth $46,436,000 after acquiring an additional 1,629 shares in the last quarter. CX Institutional raised its holdings in shares of American International Group by 6.8% in the third quarter. CX Institutional now owns 6,669 shares of the insurance provider's stock valued at $496,000 after purchasing an additional 423 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of American International Group by 5.3% during the second quarter. QRG Capital Management Inc. now owns 84,219 shares of the insurance provider's stock valued at $6,277,000 after purchasing an additional 4,205 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.

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