Evercore ISI Raises American International Group (NYSE:AIG) Price Target to $81.00

American International Group (NYSE:AIG - Get Free Report) had its target price upped by Evercore ISI from $80.00 to $81.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "in-line" rating on the insurance provider's stock. Evercore ISI's target price suggests a potential upside of 3.21% from the company's current price.

Several other brokerages also recently issued reports on AIG. Citigroup boosted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Royal Bank of Canada boosted their price target on shares of American International Group from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on American International Group from $73.00 to $80.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Wells Fargo & Company raised their price target on shares of American International Group from $74.00 to $80.00 and gave the company an "equal weight" rating in a report on Thursday, April 11th. Finally, UBS Group increased their target price on shares of American International Group from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group has an average rating of "Moderate Buy" and a consensus target price of $80.44.

American International Group Price Performance

Shares of NYSE:AIG traded up $0.38 during trading hours on Friday, hitting $78.48. 6,295,587 shares of the company's stock traded hands, compared to its average volume of 4,001,248. The company's fifty day simple moving average is $75.24 and its two-hundred day simple moving average is $69.36. The company has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a 52 week low of $48.95 and a 52 week high of $79.70.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.68% and a net margin of 9.98%. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts anticipate that American International Group will post 6.95 EPS for the current fiscal year.

American International Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at $38,346,215.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares of the company's stock, valued at $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American International Group

Large investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC grew its stake in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider's stock worth $29,000 after buying an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of American International Group in the first quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new position in American International Group during the 3rd quarter worth $26,000. CENTRAL TRUST Co boosted its holdings in American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 250 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in American International Group in the third quarter worth about $32,000. Institutional investors own 90.60% of the company's stock.

American International Group Company Profile

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.

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