American International Group (NYSE:AIG) Given New $89.00 Price Target at HSBC

American International Group (NYSE:AIG) had its price objective cut by investment analysts at HSBC from $90.00 to $89.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. HSBC’s target price suggests a potential upside of 16.49% from the company’s previous close.

Other analysts have also issued reports about the company. Cantor Fitzgerald raised their target price on American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their price objective on American International Group from $85.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Barclays dropped their price objective on shares of American International Group from $79.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Mizuho raised their price target on shares of American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Hold” and an average price target of $87.82.

American International Group Price Performance

NYSE:AIG opened at $76.40 on Tuesday. The firm’s fifty day moving average is $76.82 and its two-hundred day moving average is $78.23. The firm has a market cap of $41.02 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.58 and a beta of 0.59. 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 has a one year low of $71.25 and a one year high of $87.46.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, February 12th. The insurance provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter last year, the business posted $1.30 EPS. Research analysts expect that American International Group will post 6.24 EPS for the current year.

Hedge Funds Weigh In On American International Group

Large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after purchasing an additional 129 shares during the period. Westwood Holdings Group Inc. increased its stake in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after buying an additional 130 shares in the last quarter. First Bank & Trust increased its stake in American International Group by 2.2% during the 3rd quarter. First Bank & Trust now owns 6,053 shares of the insurance provider’s stock worth $475,000 after buying an additional 131 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of American International Group by 17.7% during the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 131 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its position in shares of American International Group by 3.0% in the third quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock valued at $370,000 after acquiring an additional 138 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.