Morgan Stanley Increases American International Group (NYSE:AIG) Price Target to $85.00

American International Group (NYSE:AIG) had its price target lifted by investment analysts at Morgan Stanley from $81.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on AIG. Keefe, Bruyette & Woods boosted their price objective on American International Group from $94.00 to $97.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday, March 13th. The Goldman Sachs Group boosted their price target on American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. Jefferies Financial Group boosted their price target on American International Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.12.

American International Group Trading Down 0.2%

American International Group stock traded down $0.18 during mid-day trading on Monday, hitting $84.15. 289,319 shares of the company’s stock were exchanged, compared to its average volume of 4,419,621. The firm has a market capitalization of $48.50 billion, a P/E ratio of -40.50, a PEG ratio of 1.01 and a beta of 0.69. American International Group has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The company’s 50 day simple moving average is $82.47 and its 200-day simple moving average is $77.74.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.13. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.25 EPS. On average, equities analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Insider Buying and Selling at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AIG. MBB Public Markets I LLC purchased a new position in American International Group in the 1st quarter worth approximately $328,000. Ascent Group LLC increased its position in shares of American International Group by 26.3% during the 1st quarter. Ascent Group LLC now owns 10,438 shares of the insurance provider’s stock valued at $907,000 after purchasing an additional 2,173 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of American International Group by 59.7% during the 1st quarter. Great Lakes Advisors LLC now owns 11,818 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 4,420 shares during the last quarter. Caxton Associates LLP bought a new position in American International Group in the 1st quarter valued at $3,417,000. Finally, CTC Alternative Strategies Ltd. bought a new position in American International Group in the 1st quarter valued at $417,000. 90.60% of the stock is currently owned by institutional investors.

About American International Group

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.