American International Group (NYSE:AIG – Get Free Report) had its price objective decreased by equities research analysts at Keefe, Bruyette & Woods from $98.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 17.24% from the stock’s previous close.
AIG has been the topic of several other reports. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. BMO Capital Markets boosted their target price on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. HSBC cut their price target on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley reduced their price objective on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Finally, UBS Group boosted their price objective on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.44.
Read Our Latest Research Report on American International Group
American International Group Stock Performance
American International Group (NYSE:AIG – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same period last year, the business posted $1.17 earnings per share. As a group, research analysts predict that American International Group will post 7.98 EPS for the current year.
Hedge Funds Weigh In On American International Group
Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in American International Group by 7.9% during the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after buying an additional 4,661,246 shares during the period. Franklin Resources Inc. raised its stake in shares of American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.
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.
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