American International Group (NYSE:AIG) Stock Price Target Lowered at Mizuho

Key Points

• Mizuho lowered AIG’s price target from $85 to $83 while maintaining a “neutral” rating, implying approximately 9.62% upside from the stock’s $75.71 price.
• Analyst sentiment remains mixed, with eight “buy” ratings and ten “hold” ratings; the consensus rating is “Hold” with an average price target of $88.11.
• AIG exceeded quarterly EPS expectations, reporting $2.00 per share versus the $1.92 consensus, although revenue of $7.08 billion came in below the $7.25 billion estimate.

American International Group (NYSE:AIG - Get Free Report) had its target price decreased by research analysts at Mizuho from $85.00 to $83.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the insurance provider's stock. Mizuho's price objective would suggest a potential upside of 9.62% from the company's current price.

Other equities analysts have also issued research reports about the stock. HSBC dropped their price target on shares of American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada upped their price target on American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods raised their price objective on American International Group from $95.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Piper Sandler lifted their price objective on American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their target price on American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, American International Group currently has an average rating of "Hold" and an average price target of $88.11.

American International Group Price Performance

NYSE:AIG traded up $0.60 during mid-day trading on Wednesday, hitting $75.71. 2,252,779 shares of the company's stock traded hands, compared to its average volume of 4,313,787. 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 1 year low of $71.25 and a 1 year high of $87.29. The company has a market cap of $39.59 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.80 and a beta of 0.52. The firm's 50 day simple moving average is $76.33 and its 200 day simple moving average is $76.42.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm earned $1.81 EPS. Sell-side analysts expect that American International Group will post 8.04 EPS for the current year.

Insider Activity at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the business's stock in a transaction on 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 owned 592,833 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

Institutional Trading of American International Group

Large investors have recently added to or reduced their stakes in the business. L2 Asset Management LLC raised its position in shares of American International Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider's stock worth $227,000 after acquiring an additional 139 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of American International Group by 1.3% in the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock worth $831,000 after acquiring an additional 146 shares during the period. CENTRAL TRUST Co boosted its holdings in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 151 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in American International Group by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider's stock valued at $174,000 after acquiring an additional 158 shares during the last quarter. Finally, Mayfair Advisory Group LLC increased its position in American International Group by 6.3% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,925 shares of the insurance provider's stock valued at $220,000 after purchasing an additional 174 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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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