Bank of America Has Lowered Expectations for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price objective dropped by analysts at Bank of America from $80.00 to $79.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s price objective would suggest a potential upside of 2.41% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Cantor Fitzgerald increased their price target on American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Mizuho lowered their price objective on American International Group from $86.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley dropped their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, Evercore lowered their price target on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.41.

American International Group Price Performance

American International Group stock opened at $77.14 on Tuesday. American International Group has a 52-week low of $71.25 and a 52-week high of $87.46. The firm has a market capitalization of $41.42 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.60 and a beta of 0.59. The company has a fifty day simple moving average of $77.19 and a 200-day simple moving average of $78.23. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.06. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period last year, the firm posted $1.30 earnings per share. On average, equities analysts anticipate that American International Group will post 6.24 EPS for the current fiscal year.

Institutional Trading of American International Group

Several institutional investors and hedge funds have recently bought and sold shares of AIG. Brighton Jones LLC purchased a new position in American International Group during the fourth quarter worth about $1,091,000. Sivia Capital Partners LLC boosted its position in shares of American International Group by 30.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after purchasing an additional 1,185 shares during the period. Flow Traders U.S. LLC acquired a new stake in American International Group in the 2nd quarter valued at approximately $217,000. Ieq Capital LLC lifted its stake in American International Group by 11.5% during the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after purchasing an additional 25,311 shares in the last quarter. Finally, HUB Investment Partners LLC purchased a new position in shares of American International Group during the second quarter worth $269,000. 90.60% of the stock is currently 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.