American International Group (AIG) Given New $58.00 Price Target at Argus

American International Group (NYSE:AIG) had its price objective dropped by equities researchers at Argus from $63.00 to $58.00 in a research report issued on Friday. The firm presently has a “buy” rating on the insurance provider’s stock. Argus’ price objective would indicate a potential upside of 11.41% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. UBS Group upgraded shares of American International Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $53.71 to $63.00 in a research report on Thursday, May 17th. Wells Fargo & Co reiterated a “buy” rating on shares of American International Group in a research report on Monday, May 14th. Goldman Sachs Group upgraded shares of American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Thursday, May 10th. Zacks Investment Research upgraded shares of American International Group from a “strong sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research report on Wednesday, July 4th. Finally, ValuEngine upgraded shares of American International Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. American International Group currently has a consensus rating of “Hold” and an average price target of $64.02.

American International Group stock traded up $0.06 during mid-day trading on Friday, hitting $52.06. The company’s stock had a trading volume of 387,733 shares, compared to its average volume of 4,361,455. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.28. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.06 and a beta of 1.25. American International Group has a twelve month low of $49.57 and a twelve month high of $65.55.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, August 2nd. The insurance provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.16). American International Group had a positive return on equity of 2.03% and a negative net margin of 13.67%. The firm had revenue of $11.47 billion for the quarter, compared to analysts’ expectations of $11.71 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. equities analysts predict that American International Group will post 4.58 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of American International Group by 56.3% during the 2nd quarter. FMR LLC now owns 22,621,535 shares of the insurance provider’s stock valued at $1,199,393,000 after buying an additional 8,149,702 shares during the period. Franklin Resources Inc. lifted its stake in shares of American International Group by 3.5% in the 1st quarter. Franklin Resources Inc. now owns 21,547,420 shares of the insurance provider’s stock valued at $1,172,611,000 after purchasing an additional 718,976 shares during the last quarter. Boston Partners lifted its stake in shares of American International Group by 82.5% in the 2nd quarter. Boston Partners now owns 12,260,976 shares of the insurance provider’s stock valued at $650,077,000 after purchasing an additional 5,543,692 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of American International Group by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,413,923 shares of the insurance provider’s stock valued at $499,125,000 after purchasing an additional 81,229 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of American International Group by 17.8% in the 2nd quarter. Pzena Investment Management LLC now owns 8,778,185 shares of the insurance provider’s stock valued at $465,419,000 after purchasing an additional 1,327,729 shares during the last quarter. 86.01% of the stock is owned by institutional investors.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. 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, and marine insurance.

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