American International Group (NYSE:AIG) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

American International Group (NYSE:AIG) had its price target lifted by investment analysts at The Goldman Sachs Group from $85.00 to $88.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 17.86% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Wells Fargo & Company reduced their price target on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Citigroup increased their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Mizuho raised their price objective on American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings cut American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.94.

American International Group Stock Performance

Shares of NYSE AIG opened at $74.66 on Wednesday. The company’s fifty day moving average price is $75.64 and its 200 day moving average price is $77.26. 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 $39.59 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last released its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the previous year, the company earned $1.17 earnings per share. On average, research analysts predict that American International Group will post 7.98 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

Large investors have recently modified their holdings of the business. Modus Advisors LLC purchased a new stake in shares of American International Group during the fourth quarter worth approximately $27,000. Navalign LLC acquired a new position in shares of American International Group in the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. acquired a new stake in American International Group during the 4th quarter worth $29,000. SHP Wealth Management acquired a new position in American International Group in the fourth quarter valued at $34,000. Finally, CENTRAL TRUST Co grew its holdings in shares of American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

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.