American International Group (NYSE:AIG) Given New $87.00 Price Target at The Goldman Sachs Group

American International Group (NYSE:AIG) had its target price hoisted by investment analysts at The Goldman Sachs Group from $79.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 0.07% from the company’s current price.

Several other research firms have also commented on AIG. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. BMO Capital Markets boosted their price objective on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Morgan Stanley raised their price objective on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, UBS Group cut their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average price target of $86.00.

American International Group Price Performance

Shares of NYSE:AIG traded down $0.00 during mid-day trading on Tuesday, reaching $86.94. The stock had a trading volume of 2,166,684 shares, compared to its average volume of 4,346,382. The business’s 50 day moving average price is $78.77 and its 200 day moving average price is $76.05. American International Group has a 1 year low of $69.00 and a 1 year high of $87.51. The company has a market cap of $51.58 billion, a P/E ratio of -41.78, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Research analysts expect that American International Group will post 6.24 EPS for the current fiscal year.

Insider Buying and Selling at American International Group

In related news, Director John G. Rice purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Duncker Streett & Co. Inc. bought a new position in shares of American International Group during the 4th quarter worth $25,000. Asset Planning Inc bought a new position in American International Group during the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in American International Group during the 4th quarter valued at about $29,000. BankPlus Trust Department purchased a new stake in shares of American International Group in the 4th quarter worth approximately $36,000. Finally, Whipplewood Advisors LLC bought a new position in shares of American International Group during the fourth quarter valued at approximately $40,000. Institutional investors own 90.60% of the company’s stock.

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.