American International Group (NYSE:AIG) Price Target Raised to $98.00 at Barclays

American International Group (NYSE:AIG) had its price objective raised by equities research analysts at Barclays from $90.00 to $98.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price points to a potential upside of 12.67% from the company’s current price.

Several other brokerages have also issued reports on AIG. Evercore ISI boosted their price target on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 14th. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, 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 note on Wednesday, March 5th. Eight 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 company’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and an average target price of $86.50.

American International Group Stock Performance

Shares of NYSE AIG opened at $86.98 on Wednesday. American International Group has a 12 month low of $69.00 and a 12 month high of $87.51. The company has a market cap of $51.61 billion, a P/E ratio of -41.59, a P/E/G ratio of 1.01 and a beta of 0.98. The business’s 50 day moving average is $79.00 and its two-hundred day moving average is $76.15. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities analysts expect that American International Group will post 6.24 EPS for the current year.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice bought 10,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors boosted its stake in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after acquiring an additional 482,724 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after purchasing an additional 461,912 shares during the period. Franklin Resources Inc. increased its holdings in American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. Finally, Norges Bank bought a new stake in American International Group in the fourth quarter valued at about $718,013,000. 90.60% of the stock is owned by 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.