American International Group (AIG) Receives New Coverage from Analysts at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. initiated coverage on shares of American International Group (NYSE:AIG) in a note issued to investors on Friday. The firm set a “neutral” rating and a $63.00 price target on the insurance provider’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 18.20% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Thursday, May 10th. Barclays restated an “overweight” rating and set a $71.00 price objective (up previously from $68.00) on shares of American International Group in a research report on Tuesday, February 20th. Bank of America upgraded American International Group from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $59.40 to $58.28 in a research report on Friday, February 9th. Zacks Investment Research lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, April 16th. Finally, Wells Fargo & Co set a $72.00 price objective on American International Group and gave the stock a “buy” rating in a research report on Monday, April 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $66.31.

Shares of American International Group stock traded down $0.41 during trading on Friday, reaching $53.30. 2,884,522 shares of the company’s stock were exchanged, compared to its average volume of 7,225,819. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.27 and a current ratio of 0.27. American International Group has a 1-year low of $49.57 and a 1-year high of $67.30. The stock has a market capitalization of $48.21 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.24.



American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.22). The business had revenue of $11.73 billion for the quarter, compared to analyst estimates of $11.60 billion. American International Group had a positive return on equity of 2.65% and a negative net margin of 13.03%. During the same period last year, the firm posted $1.36 EPS. research analysts forecast that American International Group will post 4.95 earnings per share for the current year.

In related news, Director Douglas M. Steenland purchased 4,800 shares of American International Group stock in a transaction on Friday, May 4th. The shares were purchased at an average price of $52.06 per share, for a total transaction of $249,888.00. Following the transaction, the director now owns 3,510 shares of the company’s stock, valued at approximately $182,730.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director W Don Cornwell sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total value of $146,950.00. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Sound Shore Management Inc. CT bought a new stake in shares of American International Group in the 1st quarter valued at about $196,526,000. Orbis Allan Gray Ltd boosted its position in shares of American International Group by 39.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 8,865,081 shares of the insurance provider’s stock valued at $528,182,000 after purchasing an additional 2,510,464 shares in the last quarter. Standard Life Aberdeen plc boosted its position in shares of American International Group by 73.5% during the 4th quarter. Standard Life Aberdeen plc now owns 5,648,140 shares of the insurance provider’s stock valued at $336,588,000 after purchasing an additional 2,393,028 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of American International Group during the 1st quarter valued at about $92,514,000. Finally, Point72 Asset Management L.P. boosted its position in shares of American International Group by 383.7% during the 1st quarter. Point72 Asset Management L.P. now owns 1,955,534 shares of the insurance provider’s stock valued at $106,420,000 after purchasing an additional 1,551,242 shares in the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

American International Group Company Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. 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, and marine insurance.

Analyst Recommendations for American International Group (NYSE:AIG)

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