Piper Sandler Raises American International Group (NYSE:AIG) Price Target to $95.00

American International Group (NYSE:AIG) had its price target raised by equities researchers at Piper Sandler from $88.00 to $95.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 9.73% from the company’s previous close.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Monday, December 15th. TD Cowen raised their price target on American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. UBS Group boosted their price objective on American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and a consensus target price of $89.28.

American International Group Price Performance

Shares of NYSE:AIG opened at $86.58 on Monday. The stock has a market capitalization of $46.71 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.89 and a beta of 0.62. The business has a 50-day moving average of $78.91 and a two-hundred day moving average of $80.30. American International Group has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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. The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 9.09% and a net margin of 11.89%.During the same period last year, the business earned $1.23 EPS. On average, equities research analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aaron Wealth Advisors LLC increased its stake in American International Group by 2.4% in the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after acquiring an additional 126 shares during the period. Monument Capital Management grew its stake in shares of American International Group by 3.5% in the 2nd quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after purchasing an additional 129 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares during the period. Finally, First Bank & Trust grew its position in American International Group by 2.2% in the third quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 131 shares during the period. 90.60% of the stock is owned by institutional investors.

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.