Argus Reiterates "Buy" Rating for American International Group (NYSE:AIG)

Key Points

• Argus reiterated its “Buy” rating on American International Group and set a $90 price target, implying 18.84% upside from the prior close. Analysts overall remain mixed, with a consensus “Hold” rating and an average target of $88.37.
• AIG reported quarterly earnings of $2.00 per share, exceeding the $1.92 consensus estimate, though revenue of $7.08 billion fell short of the $7.25 billion forecast.
• AIG shares opened at $75.73 and were down 0.8%; institutional investors own 90.60% of the stock, while insider ownership stands at 0.60% following a 200,000-share sale by CEO Peter Zaffino.

American International Group (NYSE:AIG - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Argus in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $90.00 target price on the insurance provider's stock. Argus' target price indicates a potential upside of 18.84% from the company's previous close.

Several other brokerages have also recently weighed in on AIG. Piper Sandler boosted their price objective on shares of American International Group from $80.00 to $84.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods lifted their price objective on American International Group from $95.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered their price target on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, August 17th. The Goldman Sachs Group lifted their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Finally, HSBC cut their target price on American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.37.

American International Group Trading Down 0.8%

NYSE AIG opened at $75.73 on Wednesday. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29. The business's fifty day moving average is $77.90 and its 200 day moving average is $77.02. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 0.86 and a beta of 0.50.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. 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 analyst estimates 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 last year, the firm posted $1.81 earnings per share. As a group, sell-side analysts expect that American International Group will post 8.02 EPS for the current fiscal year.

Insider Transactions at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value 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. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 corporate insiders.

Institutional Trading of American International Group

Hedge funds have recently bought and sold shares of the business. Modus Advisors LLC purchased a new position in shares of American International Group in the 4th quarter worth about $27,000. Navalign LLC bought a new stake in shares of American International Group in the fourth quarter valued at $29,000. Mcguire Capital Advisors Inc. purchased a new position in shares of American International Group during the 4th quarter valued at $29,000. First Bancorp Inc ME bought a new position in American International Group during the second quarter worth about $30,000. Finally, SHP Wealth Management bought a new stake in shares of American International Group in the fourth quarter valued at approximately $34,000. 90.60% of the stock is currently owned by institutional investors.

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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