Mizuho Begins Coverage on American International Group (NYSE:AIG)

Stock analysts at Mizuho initiated coverage on shares of American International Group (NYSE:AIG) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $84.00 price target on the insurance provider’s stock. Mizuho’s target price points to a potential downside of 2.42% from the company’s previous close.

Several other research firms have also commented on AIG. Morgan Stanley dropped their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of American International Group in a research note on Thursday, December 11th. Wall Street Zen cut American International Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Bank of America boosted their target price on American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, The Goldman Sachs Group lowered their price target on American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.89.

American International Group Stock Up 1.8%

Shares of AIG opened at $86.08 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $46.45 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.62. American International Group has a 1 year low of $69.24 and a 1 year high of $88.07. The business’s 50 day simple moving average is $78.59 and its 200-day simple moving average is $80.32.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The firm had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the firm posted $1.23 earnings per share. As a group, equities analysts expect that American International Group will post 6.24 earnings per share for the current fiscal year.

Institutional Trading of American International Group

A number of large investors have recently made changes to their positions in the stock. Westfuller Advisors LLC purchased a new position in American International Group in the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp increased its position in shares of American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 355 shares during the period. Eastern Bank raised its stake in shares of American International Group by 2,473.3% during the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group in the second quarter valued at approximately $32,000. Finally, GFG Capital LLC purchased a new stake in shares of American International Group in the second quarter valued at approximately $33,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

About American International Group

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.