HSBC Cuts American International Group (NYSE:AIG) Price Target to $89.00

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

Several other brokerages have also weighed in on AIG. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. The Goldman Sachs Group raised shares of American International Group from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Thursday, March 5th. TD Cowen boosted their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, December 16th. Jefferies Financial Group increased 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 report on Tuesday, December 16th. Finally, UBS Group cut their price target on shares of American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.82.

American International Group Stock Performance

Shares of American International Group stock opened at $76.40 on Tuesday. The business’s fifty day simple moving average is $76.82 and its 200-day simple moving average is $78.23. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm has a market cap of $41.02 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.59. American International Group has a 52 week low of $71.25 and a 52 week high of $87.46.

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

Institutional Trading of American International Group

Several hedge funds have recently modified their holdings of the business. Brighton Jones LLC purchased a new stake in shares of American International Group during the 4th quarter worth $1,091,000. Sivia Capital Partners LLC lifted its stake in shares of American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 1,185 shares during the period. Baird Financial Group Inc. lifted its stake in shares of American International Group by 27.4% in the second quarter. Baird Financial Group Inc. now owns 50,108 shares of the insurance provider’s stock valued at $4,289,000 after purchasing an additional 10,764 shares during the period. Flow Traders U.S. LLC purchased a new stake in American International Group during the second quarter worth about $217,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in American International Group by 16.4% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 1,350 shares of the insurance provider’s stock valued at $116,000 after buying an additional 190 shares in the last quarter. 90.60% of the stock is 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.