American International Group (NYSE:AIG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

American International Group (NYSE:AIG) had its target price increased by JPMorgan Chase & Co. from $86.00 to $90.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.28% from the company’s current price.

Several other brokerages also recently commented on AIG. Cantor Fitzgerald upgraded American International Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $92.00 in a research note on Thursday, July 9th. Wells Fargo & Company upped their price target on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. The Goldman Sachs Group raised their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Barclays boosted their price objective on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.22.

American International Group Stock Up 0.4%

Shares of NYSE AIG opened at $80.16 on Monday. The firm has a market cap of $42.50 billion, a PE ratio of 14.14, a P/E/G ratio of 0.73 and a beta of 0.53. American International Group has a 12-month low of $71.25 and a 12-month high of $87.29. The company’s fifty day simple moving average is $76.57 and its 200 day simple moving average is $76.57. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period last year, the company posted $1.17 earnings per share. As a group, sell-side analysts forecast that American International Group will post 8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American International Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Modus Advisors LLC bought a new stake in shares of American International Group in the 4th quarter worth $27,000. Navalign LLC purchased a new stake in shares of American International Group in the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new position in shares of American International Group during the fourth quarter valued at about $29,000. SHP Wealth Management bought a new position in shares of American International Group during the fourth quarter valued at about $34,000. Finally, CENTRAL TRUST Co boosted its holdings in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

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.