American International Group, Inc. (NYSE:AIG)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They currently have a $73.00 target price on the insurance provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 22.11% from the stock’s previous close.

A number of other brokerages also recently issued reports on AIG. BidaskClub downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, July 5th. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.15.

American International Group (NYSE:AIG) traded up 2.59% on Wednesday, hitting $59.78. 10,069,162 shares of the stock were exchanged. The stock’s 50 day moving average price is $62.64 and its 200 day moving average price is $62.56. American International Group has a 52-week low of $57.35 and a 52-week high of $67.47. The firm has a market cap of $54.01 billion, a PE ratio of 498.17 and a beta of 1.14.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period last year, the company earned $0.98 EPS. Equities research analysts forecast that American International Group will post $5.33 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in AIG. Boston Partners grew its position in shares of American International Group by 262.4% during the second quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after buying an additional 4,968,504 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in American International Group by 307.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,167,213 shares of the insurance provider’s stock worth $260,534,000 after purchasing an additional 3,144,446 shares during the last quarter. Prudential Financial Inc. lifted its stake in American International Group by 202.5% during the second quarter. Prudential Financial Inc. now owns 4,009,199 shares of the insurance provider’s stock worth $250,655,000 after purchasing an additional 2,683,775 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in American International Group during the second quarter worth approximately $134,359,000. Finally, TIAA CREF Investment Management LLC lifted its stake in American International Group by 27.1% during the second quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after purchasing an additional 2,103,522 shares during the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Analyst Recommendations for American International Group (NYSE:AIG)

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