American International Group (NYSE:AIG) Price Target Cut to $77.00 by Analysts at Cantor Fitzgerald

American International Group (NYSE:AIG) had its price objective reduced by investment analysts at Cantor Fitzgerald from $80.00 to $77.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 6.52% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on AIG. Weiss Ratings reiterated a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Bank of America boosted their price target on shares of American International Group from $88.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Keefe, Bruyette & Woods increased their target price on American International Group from $91.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, HSBC lowered their price objective on American International Group from $93.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.63.

American International Group Trading Down 2.4%

NYSE AIG opened at $72.29 on Wednesday. The company has a market capitalization of $39.01 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.62. The firm’s fifty day simple moving average is $79.83 and its 200-day simple moving average is $79.98. American International Group has a 1-year low of $70.64 and a 1-year high of $88.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. As a group, sell-side analysts anticipate that American International Group will post 6.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Westfuller Advisors LLC bought a new position in shares of American International Group in the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp grew its holdings in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares in the last quarter. GFG Capital LLC purchased a new stake in American International Group during the second quarter valued at $33,000. Eastern Bank lifted its stake in shares of American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 371 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group in the second quarter worth approximately $32,000. 90.60% of the stock is currently owned by institutional investors.

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.