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

Key Points

• JPMorgan Chase & Co. raised its price target on American International Group to $90 from $86, while keeping a neutral rating. The new target implies about 12.6% upside from the stock’s current price.
• Other Wall Street firms have also adjusted their views on AIG, with several lifting price targets; the overall analyst consensus remains Hold with an average price target of $88.22.
• AIG recently beat earnings expectations, reporting $2.11 EPS versus the $1.89 estimate, though revenue came in below forecasts. The stock traded at $79.94 in Monday trading, near its 50-day and 200-day moving averages.

American International Group (NYSE:AIG - Get Free Report) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $86.00 to $90.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 12.58% from the company's current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets raised their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Morgan Stanley dropped their target price 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. The Goldman Sachs Group increased their price target on American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Wells Fargo & Company raised their price target on American International Group from $85.00 to $89.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on American International Group from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $88.22.

American International Group Stock Performance

AIG traded down $0.56 during midday trading on Monday, reaching $79.94. The company had a trading volume of 182,951 shares, compared to its average volume of 4,463,392. The business has a 50-day moving average of $76.42 and a two-hundred day moving average of $76.65. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The company has a market cap of $42.39 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period in the previous year, the company posted $1.17 EPS. As a group, equities research analysts predict that American International Group will post 8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in American International Group during the 4th quarter valued at about $636,782,000. Price T Rowe Associates Inc. MD boosted its holdings in American International Group by 39.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of American International Group by 22.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after acquiring an additional 1,846,979 shares in the last quarter. Finally, Viking Global Investors LP acquired a new position in shares of American International Group during the second quarter valued at about $155,413,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.