American International Group, Inc. (NYSE:AIG)‘s stock had its “sell” rating reiterated by Deutsche Bank AG in a research note issued on Wednesday. They presently have a $60.00 price target on the insurance provider’s stock, up from their prior price target of $57.00. Deutsche Bank AG’s target price indicates a potential downside of 7.08% from the stock’s previous close.
A number of other research analysts have also weighed in on the company. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. BidaskClub lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. Finally, Zacks Investment Research lowered American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $68.95.
Shares of American International Group (NYSE:AIG) traded down 1.07% on Wednesday, hitting $63.88. The company had a trading volume of 2,079,303 shares. The stock has a market capitalization of $59.14 billion, a PE ratio of 129.84 and a beta of 1.14. American International Group has a 52 week low of $57.35 and a 52 week high of $67.47. The firm’s 50 day moving average price is $64.02 and its 200-day moving average price is $63.17.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Analysts forecast that American International Group will post $5.19 earnings per share for the current fiscal year.
American International Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were acquired at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the purchase, the chief executive officer now owns 80,000 shares in the company, valued at approximately $4,918,400. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock worth $12,183,000 after buying an additional 152,647 shares during the period. Private Bank & Trust Co. increased its position in American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock worth $802,000 after buying an additional 2,003 shares during the period. Parametrica Management Ltd purchased a new position in American International Group during the first quarter worth about $370,000. Atria Investments LLC increased its position in American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock worth $1,730,000 after buying an additional 694 shares during the period. Finally, Eastern Bank increased its position in American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock worth $451,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.
About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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