American International Group (NYSE:AIG) Price Target Raised to $89.00

American International Group (NYSE:AIG) had its price objective raised by equities research analysts at Mizuho from $86.00 to $89.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price objective points to a potential upside of 11.77% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. The Goldman Sachs Group boosted their price target on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods decreased their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company dropped their price target on American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.83.

American International Group Stock Performance

Shares of American International Group stock opened at $79.63 on Thursday. The stock has a market cap of $42.22 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.74 and a beta of 0.53. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29. The company’s fifty day moving average is $76.01 and its 200 day moving average is $77.02. 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 (NYSE:AIG) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion for 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 business earned $1.17 EPS. Sell-side analysts forecast that American International Group will post 7.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after acquiring an additional 4,661,246 shares during 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 valued at $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake 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 buying an additional 1,846,979 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares during the period. 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.