American International Group (NYSE:AIG) Stock Price Target Raised at UBS Group

Key Points

• UBS Group raised its AIG price target from $98 to $100 and maintained a “buy” rating, implying 32.19% upside from the stock’s reported $75.65 price.
• Analyst sentiment overall remains cautious: AIG has a consensus “hold” rating and an average price target of $88.26, based on eight Buy and ten Hold ratings.
• AIG’s latest quarterly results exceeded expectations on earnings, reporting $2.00 EPS versus the $1.92 estimate, while revenue of $7.08 billion fell short of the $7.25 billion consensus.

American International Group (NYSE:AIG - Get Free Report) had its target price increased by research analysts at UBS Group from $98.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the insurance provider's stock. UBS Group's price target would indicate a potential upside of 32.19% from the stock's current price.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised 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. Mizuho cut their price objective on shares of American International Group from $86.00 to $85.00 and set a "neutral" rating for the company in a research report on Wednesday, September 16th. HSBC reduced their target price on shares of American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a research note on Monday, July 6th. The Goldman Sachs Group boosted their price target on American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company cut their price target on American International Group from $89.00 to $85.00 and set an "equal weight" rating for the company in a report on Monday, August 10th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $88.26.

American International Group Stock Performance

Shares of AIG stock traded up $0.53 during trading hours on Tuesday, reaching $75.65. 1,014,518 shares of the company's stock were exchanged, compared to its average volume of 4,303,748. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The stock has a market capitalization of $39.56 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.80 and a beta of 0.52. The business has a fifty day moving average price of $76.45 and a 200-day moving average price of $76.42. 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 announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter last year, the company posted $1.81 earnings per share. Analysts predict that American International Group will post 8.04 EPS for the current fiscal year.

Insider Activity at American International Group

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in American International Group in the third quarter valued at about $392,000. Baker Tilly Wealth Management LLC increased its holdings in shares of American International Group by 50.5% during the third quarter. Baker Tilly Wealth Management LLC now owns 7,994 shares of the insurance provider's stock worth $595,000 after buying an additional 2,682 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of American International Group by 0.3% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 623,972 shares of the insurance provider's stock valued at $46,436,000 after acquiring an additional 1,629 shares during the last quarter. CX Institutional boosted its holdings in shares of American International Group by 6.8% in the 3rd quarter. CX Institutional now owns 6,669 shares of the insurance provider's stock worth $496,000 after acquiring an additional 423 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of American International Group by 5.3% in the 2nd quarter. QRG Capital Management Inc. now owns 84,219 shares of the insurance provider's stock worth $6,277,000 after acquiring an additional 4,205 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

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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