Piper Sandler Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price objective upped by investment analysts at Piper Sandler from $84.00 to $85.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Piper Sandler‘s price target would suggest a potential upside of 7.14% from the company’s previous close.

Several other research analysts have also commented on the company. Barclays raised their price target on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Morgan Stanley cut their price objective on American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Wells Fargo & Company increased their target price on American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald decreased their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, Keefe, Bruyette & Woods lowered their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, October 12th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.84.

American International Group Trading Up 2.0%

Shares of NYSE:AIG traded up $1.58 during mid-day trading on Monday, reaching $79.33. 521,174 shares of the company were exchanged, compared to its average volume of 4,298,987. American International Group has a 1 year low of $71.25 and a 1 year high of $87.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The firm’s 50-day simple moving average is $77.46 and its 200 day simple moving average is $76.94. The firm has a market cap of $41.13 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.82 and a beta of 0.48.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.18. American International Group had a return on equity of 10.86% and a net margin of 11.86%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. Equities research analysts forecast that American International Group will post 8.10 EPS for the current year.

Insider Activity

In related news, insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several large investors have recently bought and sold shares of AIG. First Bancorp Inc ME acquired a new position in shares of American International Group during the second quarter worth about $30,000. Fiduciary Financial Advisors purchased a new stake in shares of American International Group during the second quarter worth approximately $34,000. Center for Financial Planning Inc. increased its stake in shares of American International Group by 52.0% during the third quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider’s stock worth $34,000 after buying an additional 156 shares during the period. Elevation Wealth Partners LLC raised its holdings in American International Group by 71.6% in the third quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 232 shares in the last quarter. Finally, AlTi Global Inc. acquired a new stake in American International Group in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.