Cantor Fitzgerald Increases American International Group (NYSE:AIG) Price Target to $85.00

Key Points

• Cantor Fitzgerald raised its AIG price target to $85 from $81 while keeping a "neutral" rating, implying roughly a 9.5% upside from the current share price.
• The analyst consensus is an average "Hold" rating with a consensus target of $87.71 (1 Strong Buy, 7 Buy, 12 Hold), reflecting mixed views despite recent target adjustments by several firms.
• AIG beat quarterly EPS estimates with $2.11 (vs. $1.89 expected), and institutional ownership is high at about 90.6%, with several funds increasing their stakes this quarter.

American International Group (NYSE:AIG - Get Free Report) had its target price lifted by investment analysts at Cantor Fitzgerald from $81.00 to $85.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has a "neutral" rating on the insurance provider's stock. Cantor Fitzgerald's target price would suggest a potential upside of 9.50% from the company's current price.

Several other equities research analysts also recently commented on the stock. Citigroup upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the company a "neutral" rating in a report on Monday. Keefe, Bruyette & Woods boosted their target price on American International Group from $96.00 to $97.00 and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Bank of America decreased their price objective on American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a report on Tuesday, April 14th. Morgan Stanley lowered their price target on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, April 6th. Finally, Piper Sandler lowered their price objective on shares of American International Group from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, American International Group currently has an average rating of "Hold" and a consensus target price of $87.71.

American International Group Price Performance

AIG stock opened at $77.63 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The business has a 50-day simple moving average of $76.85 and a two-hundred day simple moving average of $77.79. The company has a market capitalization of $41.68 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.60 and a beta of 0.53. American International Group has a 52-week low of $71.25 and a 52-week high of $87.46.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.88% and a net margin of 11.86%.The business had revenue of $7.02 billion during the quarter, compared to the consensus estimate of $7.03 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Research analysts expect that American International Group will post 7.75 EPS for the current fiscal year.

Institutional Investors Weigh In On American International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC increased its position in American International Group by 59.7% in the first quarter. Diversify Wealth Management LLC now owns 10,406 shares of the insurance provider's stock worth $768,000 after purchasing an additional 3,889 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of American International Group by 3.6% in the first quarter. Citizens Financial Group Inc. RI now owns 8,684 shares of the insurance provider's stock worth $653,000 after purchasing an additional 302 shares during the last quarter. Fifth Third Bancorp increased its stake in American International Group by 168.0% in the 1st quarter. Fifth Third Bancorp now owns 220,788 shares of the insurance provider's stock worth $16,614,000 after buying an additional 138,406 shares during the period. Candriam S.C.A. boosted its position in American International Group by 229.5% in the 1st quarter. Candriam S.C.A. now owns 300,112 shares of the insurance provider's stock valued at $22,583,000 after buying an additional 209,030 shares during the period. Finally, Cedar Mountain Advisors LLC bought a new position in American International Group in the 1st quarter worth about $50,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

About American International Group

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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