UBS Group Forecasts Strong Price Appreciation for American International Group (NYSE:AIG) Stock

Key Points

• UBS raised its AIG price target from $100 to $103 and maintained a Buy rating, implying 25.2% potential upside from the prior close.
• Analyst views remain mixed: MarketBeat reports a consensus Hold rating and an average price target of $88, with eight Buy ratings and ten Holds.
• AIG reported quarterly EPS of $2.06, beating the $1.88 consensus estimate, while shares rose 3.3% to $82.27 on Tuesday.

American International Group (NYSE:AIG - Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $100.00 to $103.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. UBS Group's price target would indicate a potential upside of 25.20% from the stock's previous close.

Several other brokerages have also commented on AIG. Piper Sandler upped their price target on shares of American International Group from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday. Bank of America reiterated a "neutral" rating on shares of American International Group in a report on Wednesday, November 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of American International Group in a research note on Tuesday, September 29th. Wells Fargo & Company boosted their price objective on shares of American International Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research note on Thursday, November 5th. Finally, Morgan Stanley dropped their price objective on American International Group from $81.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, American International Group presently has an average rating of "Hold" and a consensus target price of $88.00.

American International Group Trading Up 3.3%

Shares of NYSE AIG traded up $2.64 on Tuesday, reaching $82.27. 1,957,731 shares of the company traded hands, compared to its average volume of 4,300,837. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a 50 day moving average of $77.51 and a 200 day moving average of $76.98. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $43.02 billion, a PE ratio of 13.40, a P/E/G ratio of 0.85 and a beta of 0.48.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.18. American International Group had a net margin of 11.86% and a return on equity of 10.73%. The business had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the prior year, the firm posted $2.20 EPS. On average, equities research analysts forecast that American International Group will post 8.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company's stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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

Several large investors have recently modified their holdings of AIG. L2 Asset Management LLC boosted its holdings in shares of American International Group by 4.8% in the 2nd 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 in the last quarter. Covestor Ltd increased its holdings in American International Group by 11.0% during the 3rd quarter. Covestor Ltd now owns 1,488 shares of the insurance provider's stock valued at $111,000 after purchasing an additional 147 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in American International Group by 52.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 156 shares in the last quarter. Parkside Financial Bank & Trust raised its position in American International Group by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider's stock valued at $174,000 after purchasing an additional 158 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its position in American International Group by 1.3% in the 3rd quarter. Integrated Advisors Network LLC now owns 13,542 shares of the insurance provider's stock valued at $1,008,000 after purchasing an additional 176 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Company Profile

American International Group, Inc. (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets. AIG's principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

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