Keefe, Bruyette & Woods Raises American International Group (NYSE:AIG) Price Target to $97.00

American International Group (NYSE:AIG) had its price target upped by Keefe, Bruyette & Woods from $94.00 to $97.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 17.73% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday. Evercore ISI boosted their price target on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, March 5th. Barclays raised their price target on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $87.88.

American International Group Stock Up 0.7 %

Shares of NYSE:AIG opened at $82.39 on Thursday. The company has a market cap of $47.48 billion, a price-to-earnings ratio of -39.61, a PEG ratio of 1.01 and a beta of 0.69. American International Group has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The firm’s 50-day simple moving average is $82.30 and its 200-day simple moving average is $77.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the prior year, the business posted $1.25 EPS. As a group, equities research analysts predict that American International Group will post 6.24 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John G. Rice acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artemis Investment Management LLP increased its position in American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after purchasing an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its position in shares of American International Group by 5.2% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after acquiring an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of American International Group by 54.3% in the 4th quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock valued at $924,000 after acquiring an additional 4,468 shares during the period. Merit Financial Group LLC purchased a new position in shares of American International Group in the 4th quarter valued at $1,260,000. Finally, Williams & Novak LLC acquired a new position in shares of American International Group during the 4th quarter valued at $279,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Company Profile

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.