JPMorgan Chase & Co. Boosts American International Group (NYSE:AIG) Price Target to $97.00

Key Points

• Analysts at JPMorgan Chase & Co. raised the price target for American International Group (NYSE:AIG) from $95.00 to $97.00, suggesting a potential upside of 15.16% from the current stock price.
• AIG received mixed ratings from additional research reports, with two analysts rating it as a Strong Buy, and a consensus rating of Moderate Buy overall.
• In its last quarterly earnings, AIG reported $1.81 EPS, exceeding estimates and reflecting a strong performance compared to $1.16 EPS from the same quarter last year.

American International Group (NYSE:AIG - Get Free Report) had its price target increased by analysts at JPMorgan Chase & Co. from $95.00 to $97.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 15.16% from the stock's current price.

AIG has been the subject of several other research reports. Citigroup began coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price target for the company. Piper Sandler lowered their target price on shares of American International Group from $96.00 to $88.00 and set an "overweight" rating on the stock in a report on Thursday, October 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of American International Group in a research note on Wednesday. Keefe, Bruyette & Woods cut their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Finally, Morgan Stanley lowered their target price on shares of American International Group from $85.00 to $84.00 and set an "equal weight" rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.31.

American International Group Trading Up 0.3%

Shares of AIG stock opened at $84.23 on Thursday. American International Group has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a 50 day simple moving average of $79.61 and a two-hundred day simple moving average of $81.70. The company has a market cap of $46.66 billion, a P/E ratio of 15.96, a PEG ratio of 0.89 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Research analysts forecast that American International Group will post 6.24 earnings per share for the current year.

Institutional Investors Weigh In On American International Group

A number of hedge funds have recently modified their holdings of AIG. GQG Partners LLC grew its holdings in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares during the period. Franklin Resources Inc. lifted its position in shares of American International Group by 6.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider's stock valued at $1,072,969,000 after buying an additional 716,209 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after acquiring an additional 1,901,998 shares during the period. Norges Bank purchased a new stake in American International Group in the 2nd quarter worth about $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in American International Group by 22.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider's stock valued at $792,340,000 after acquiring an additional 1,694,290 shares during the period. Institutional investors own 90.60% of the company's stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.