American International Group (NYSE:AIG) PT Raised to $81.00

American International Group (NYSE:AIG) had its price target lifted by stock analysts at Evercore ISI from $80.00 to $81.00 in a report issued on Friday, Benzinga reports. The brokerage currently 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.

A number of other research firms also recently issued reports on AIG. Morgan Stanley lifted their price target on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and raised their price objective for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Wells Fargo & Company upped their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler upped their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.44.

American International Group Stock Up 0.5 %

Shares of NYSE AIG traded up $0.38 during trading on Friday, hitting $78.48. 6,295,587 shares of the company traded hands, compared to its average volume of 4,001,248. The firm has a market capitalization of $53.44 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.09 and a beta of 1.02. The business’s fifty day moving average is $75.24 and its 200 day moving average is $69.36. 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 fifty-two week low of $48.95 and a fifty-two week high of $79.70.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share 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 business had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. During the same period in the prior year, the business earned $1.63 EPS. Equities research analysts predict that American International Group will post 6.95 earnings per share for the current fiscal year.

American International Group declared that its board has approved a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were 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 approximately $38,346,215.40. The sale was disclosed in a legal filing 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 the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Inglis purchased 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in shares of American International Group during the 3rd quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of American International Group during the first quarter valued at about $29,000. Valued Wealth Advisors LLC increased its holdings in shares of American International Group by 303.3% in 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 period. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. Finally, CENTRAL TRUST Co boosted its holdings in American International Group by 123.8% during the 1st 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 period. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.