JPMorgan Chase & Co. Issues Pessimistic Forecast for American International Group (NYSE:AIG) Stock Price

Key Points

• JPMorgan Chase cut its AIG price target from $97 to $86 and kept a "neutral" rating, implying roughly a 9.6% upside from the prior close.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $86.76 — covering analysts include 1 Strong Buy, 7 Buy and 12 Hold — and several brokers have recently trimmed targets.
• AIG traded around $78.46 (down ~0.3%), with a $42.1B market cap, PE of 14.49 and a 12‑month range of $71.25–$87.46; last quarter EPS beat estimates while revenue lagged.

American International Group (NYSE:AIG - Get Free Report) had its target price decreased by JPMorgan Chase & Co. from $97.00 to $86.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 9.61% from the company's previous close.

AIG has been the topic of several other research reports. Keefe, Bruyette & Woods raised their price target on American International Group from $96.00 to $97.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American International Group in a research report on Monday, December 29th. Morgan Stanley reduced 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. Evercore lowered their price target on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Finally, Piper Sandler cut their price objective on shares of American International Group from $95.00 to $88.00 and set an "overweight" rating on the stock in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $86.76.

American International Group Trading Down 0.3%

Shares of AIG stock traded down $0.22 during mid-day trading on Monday, reaching $78.46. The company's stock had a trading volume of 848,776 shares, compared to its average volume of 4,493,747. 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 firm has a market capitalization of $42.12 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.60 and a beta of 0.59. The company's 50 day simple moving average is $77.29 and its 200-day simple moving average is $78.21. American International Group has a 12-month low of $71.25 and a 12-month high of $87.46.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The insurance provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same period last year, the company posted $1.30 earnings per share. On average, research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of AIG. Meeder Asset Management Inc. raised its stake in American International Group by 88.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider's stock valued at $4,580,000 after purchasing an additional 27,431 shares during the period. AlphaQuest LLC acquired a new stake in shares of American International Group in the third quarter worth $2,724,000. Allstate Corp purchased a new position in shares of American International Group during the third quarter valued at $1,689,000. Mitsubishi UFJ Trust & Banking Corp raised its position in American International Group by 21.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,680 shares of the insurance provider's stock valued at $45,842,000 after buying an additional 103,762 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in American International Group during the third quarter valued at $2,257,000. Institutional investors own 90.60% of the company's stock.

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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