American International Group (NYSE:AIG) Given New $81.00 Price Target at Morgan Stanley

American International Group (NYSE:AIG) had its target price hoisted by investment analysts at Morgan Stanley from $80.00 to $81.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price suggests a potential downside of 2.41% from the company’s current price.

Several other research firms have also commented on AIG. The Goldman Sachs Group raised their price target on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. Barclays upped their price target on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday, March 5th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, UBS Group dropped their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.71.

American International Group Stock Performance

Shares of American International Group stock traded down $0.05 during trading on Tuesday, hitting $83.00. 231,998 shares of the company’s stock were exchanged, compared to its average volume of 4,435,233. American International Group has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of -39.91, a PEG ratio of 1.01 and a beta of 0.69. The business has a 50-day simple moving average of $82.23 and a 200-day simple moving average of $77.38.

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

Insiders Place Their Bets

In other news, Director John G. Rice purchased 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of AIG. Capital Research Global Investors raised its position in shares of American International Group by 1.4% during the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after buying an additional 482,724 shares during the period. Wellington Management Group LLP raised its position in American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after purchasing an additional 1,901,998 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after purchasing an additional 1,284,354 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 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.