American International Group (NYSE:AIG) had its price objective raised by stock analysts at Morgan Stanley from $52.00 to $57.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s target price points to a potential upside of 8.00% from the company’s previous close.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Thursday, May 9th. Compass Point upgraded American International Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $56.00 in a research note on Friday, February 15th. Wells Fargo & Co restated a “buy” rating and issued a $54.00 target price on shares of American International Group in a research note on Wednesday, February 13th. Bank of America restated a “buy” rating and issued a $46.00 target price on shares of American International Group in a research note on Thursday, April 11th. Finally, ValuEngine upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.50.
NYSE AIG traded up $1.30 during trading on Thursday, reaching $52.78. The company’s stock had a trading volume of 1,374,366 shares, compared to its average volume of 5,590,018. The firm has a market capitalization of $44.11 billion, a P/E ratio of 45.11, a P/E/G ratio of 0.94 and a beta of 1.40. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group has a one year low of $36.16 and a one year high of $56.36.
American International Group (NYSE:AIG) last announced its earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.52. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.25 billion. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. During the same period in the prior year, the company earned $1.04 EPS. As a group, research analysts anticipate that American International Group will post 4.89 EPS for the current fiscal year.
American International Group declared that its board has initiated a share repurchase program on Wednesday, February 13th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of AIG. Majedie Asset Management Ltd boosted its holdings in American International Group by 39.7% during the 4th quarter. Majedie Asset Management Ltd now owns 127,057 shares of the insurance provider’s stock valued at $7,874,000 after acquiring an additional 36,107 shares during the period. Beacon Capital Management boosted its holdings in American International Group by 2.2% during the 4th quarter. Beacon Capital Management now owns 511 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 11 shares during the period. Emerald Acquisition Ltd. purchased a new stake in American International Group during the 2nd quarter valued at about $143,219,000. Norinchukin Bank The boosted its holdings in American International Group by 10.1% during the 4th quarter. Norinchukin Bank The now owns 69,225 shares of the insurance provider’s stock valued at $2,728,000 after acquiring an additional 6,372 shares during the period. Finally, Adams Diversified Equity Fund Inc. boosted its holdings in American International Group by 81.4% during the 4th quarter. Adams Diversified Equity Fund Inc. now owns 263,000 shares of the insurance provider’s stock valued at $16,298,000 after acquiring an additional 118,000 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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