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

American International Group (NYSE:AIG) had its target price lifted by research analysts at UBS Group from $94.00 to $98.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. UBS Group’s price objective would indicate a potential upside of 22.05% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. BMO Capital Markets boosted their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Cantor Fitzgerald raised their target price on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $87.67.

American International Group Price Performance

Shares of NYSE AIG traded down $0.77 during midday trading on Wednesday, reaching $80.30. 1,107,716 shares of the stock traded hands, compared to its average volume of 4,534,719. The company’s 50 day moving average is $75.90 and its 200 day moving average is $77.07. American International Group has a one year low of $71.25 and a one year high of $87.29. The stock has a market capitalization of $42.57 billion, a PE ratio of 14.16, a P/E/G ratio of 0.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

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

Institutional Trading of American International Group

A number of hedge funds have recently added to or reduced their stakes in the business. Czech National Bank increased its holdings in American International Group by 3.3% during the second quarter. Czech National Bank now owns 150,917 shares of the insurance provider’s stock valued at $11,248,000 after buying an additional 4,787 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of American International Group by 35.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 146,083 shares of the insurance provider’s stock valued at $10,888,000 after acquiring an additional 38,483 shares during the period. GK Wealth Management LLC bought a new position in shares of American International Group in the 2nd quarter worth $239,000. GAMMA Investing LLC lifted its stake in shares of American International Group by 6.7% during the 2nd quarter. GAMMA Investing LLC now owns 18,740 shares of the insurance provider’s stock worth $1,397,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in American International Group by 147.8% during the second quarter. Versant Capital Management Inc now owns 5,348 shares of the insurance provider’s stock valued at $399,000 after purchasing an additional 3,190 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.