American International Group (NYSE:AIG) Price Target Cut to $90.00 by Analysts at Cantor Fitzgerald

American International Group (NYSE:AIG) had its target price cut by stock analysts at Cantor Fitzgerald from $92.00 to $90.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 17.58% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their target price on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Royal Bank Of Canada increased their price target on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. The Goldman Sachs Group raised their price target on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. HSBC reduced their price objective on American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their price objective on American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.28.

American International Group Stock Performance

AIG opened at $76.54 on Monday. The stock has a market capitalization of $40.02 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.70 and a beta of 0.52. The company has a fifty day moving average of $77.57 and a 200 day moving average of $76.92. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the previous year, the firm posted $1.81 EPS. As a group, sell-side analysts forecast that American International Group will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in American International Group during the fourth quarter valued at approximately $636,782,000. Bank of New York Mellon Corp purchased a new position in shares of American International Group in the 2nd quarter valued at $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of American International Group in the 2nd quarter worth $464,539,000. Price T Rowe Associates Inc. MD raised its position in shares of American International Group by 39.8% in 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 acquiring an additional 4,661,246 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 shares in the last quarter. 90.60% of the stock is owned by 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.