Citigroup Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

Key Points

• Citigroup raised its price target on AIG to $88 (from $85) while maintaining a "neutral" rating, implying roughly a 13.4% upside from the current price.
• The analyst consensus is a Hold with an average price target of about $87.71; ratings are mixed (1 Strong Buy, 7 Buy, 12 Hold) after several major banks trimmed targets.
• AIG posted quarterly EPS of $2.11, topping estimates, and is largely institutionally owned (about 90.6%) with several large funds recently increasing their stakes.

American International Group (NYSE:AIG - Get Free Report) had its price objective boosted by research analysts at Citigroup from $85.00 to $88.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a "neutral" rating on the insurance provider's stock. Citigroup's price objective would indicate a potential upside of 13.37% from the company's current price.

AIG has been the subject of several other research reports. HSBC cut their target price on American International Group from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Evercore dropped their price target on American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. The Goldman Sachs Group cut their price objective on shares of American International Group from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Morgan Stanley lowered their target price on shares of American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their target price on shares of American International Group from $97.00 to $86.00 and set a "neutral" rating for the company in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $87.71.

American International Group Stock Down 1.5%

AIG 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. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.46. The firm's fifty day moving average is $76.85 and its 200 day moving average is $77.79. The stock has a market cap of $41.68 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.60 and a beta of 0.53.

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

Institutional Trading of American International Group

A number of large investors have recently made changes to their positions in AIG. Vanguard Group Inc. lifted its holdings in shares of American International Group by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider's stock valued at $5,378,635,000 after acquiring an additional 7,117,583 shares during the last quarter. Capital Research Global Investors increased its stake in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider's stock worth $2,241,091,000 after acquiring an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP raised its position in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider's stock valued at $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares during the last quarter. 90.60% of the stock is currently owned by 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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