American International Group (NYSE:AIG) had its price target upped by research analysts at Morgan Stanley from $52.00 to $57.00 in a note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 8.22% from the stock’s previous close.
Several other equities analysts have also issued reports on AIG. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Thursday, May 9th. Bank of America reaffirmed a “buy” rating and set a $56.00 price target (up previously from $50.00) on shares of American International Group in a research note on Tuesday, May 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of American International Group in a research note on Wednesday, May 8th. ValuEngine raised American International Group from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Finally, Wells Fargo & Co increased their target price on American International Group from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American International Group presently has a consensus rating of “Buy” and a consensus price target of $55.50.
Shares of AIG traded up $1.19 during trading hours on Thursday, hitting $52.67. 1,548,590 shares of the stock traded hands, compared to its average volume of 5,590,018. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group has a 1-year low of $36.16 and a 1-year high of $56.36. The firm has a market capitalization of $44.11 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Analysts anticipate that American International Group will post 4.89 EPS for the current year.
American International Group declared that its board has authorized a stock repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in the business. WealthBridge Capital Management LLC increased its holdings in shares of American International Group by 148.8% in the first quarter. WealthBridge Capital Management LLC now owns 520 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 311 shares in the last quarter. CNB Bank bought a new stake in shares of American International Group in the fourth quarter worth about $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of American International Group in the first quarter worth about $29,000. Lindbrook Capital LLC bought a new stake in shares of American International Group in the fourth quarter worth about $39,000. Finally, Rational Advisors LLC bought a new stake in shares of American International Group in the first quarter worth about $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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