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

American International Group (NYSE:AIG) had its price target boosted by equities 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 brokerage currently has a “buy” rating on the insurance provider’s stock. UBS Group’s price target indicates a potential upside of 22.05% from the company’s previous close.

Several other equities analysts have also commented on the stock. BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Bank of America dropped their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group upped their price target on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Barclays lifted their price objective on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.67.

American International Group Stock Down 0.9%

Shares of American International Group stock traded down $0.77 during trading on Wednesday, reaching $80.30. The company’s stock had a trading volume of 1,107,716 shares, compared to its average volume of 4,534,719. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a 50-day simple moving average of $75.90 and a two-hundred day simple moving average of $77.07. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG) last released 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. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period last year, the business posted $1.17 earnings per share. As a group, equities analysts forecast that American International Group will post 7.98 earnings per share for the current year.

Institutional Investors Weigh In On American International Group

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of American International Group in the 4th quarter valued at $636,782,000. Price T Rowe Associates Inc. MD grew its position in American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares during the period. Franklin Resources Inc. grew its position in American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after buying an additional 4,210,363 shares during the period. Wellington Management Group LLP increased its holdings in American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after buying an additional 1,846,979 shares in the last quarter. Hedge funds and other institutional investors 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.