American International Group (NYSE:AIG) Given “Buy” Rating at Argus

American International Group (NYSE:AIG)‘s stock had its “buy” rating reissued by research analysts at Argus in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $90.00 price objective on the insurance provider’s stock. Argus’ price objective would suggest a potential upside of 18.84% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reduced their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Keefe, Bruyette & Woods increased their target price on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Piper Sandler raised their price target on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Mizuho lifted their price target on American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Eight research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.37.

American International Group Trading Down 0.8%

Shares of AIG opened at $75.73 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a market capitalization of $39.60 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.86 and a beta of 0.50. The firm’s 50 day simple moving average is $77.90 and its 200 day simple moving average is $77.02.

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

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the completion of the sale, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Modus Advisors LLC purchased a new stake in American International Group in the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in shares of American International Group during the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. purchased a new position in shares of American International Group during the fourth quarter valued at approximately $29,000. First Bancorp Inc ME bought a new position in shares of American International Group during the second quarter valued at approximately $30,000. Finally, SHP Wealth Management bought a new position in shares of American International Group during the fourth quarter valued at approximately $34,000. Institutional investors own 90.60% of the company’s stock.

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.