American International Group (NYSE:AIG) Price Target Raised to $88.00 at The Goldman Sachs Group

American International Group (NYSE:AIG) had its target price hoisted by investment analysts at The Goldman Sachs Group from $85.00 to $88.00 in a research note issued on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 17.86% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Keefe, Bruyette & Woods upped their price objective on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. UBS Group raised their target price on American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Cantor Fitzgerald lifted their target price on American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Finally, Citigroup boosted their price target on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $87.94.

American International Group Stock Performance

Shares of NYSE AIG opened at $74.66 on Wednesday. The company has a market cap of $39.59 billion, a PE ratio of 13.17, a PEG ratio of 0.69 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $75.64 and its 200-day moving average price is $77.26. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, analysts anticipate that American International Group will post 7.98 EPS for the current year.

Hedge Funds Weigh In On American International Group

A number of large investors have recently bought and sold shares of the business. Sapient Capital LLC bought a new position in shares of American International Group during the 1st quarter worth approximately $275,000. DV Trading LLC boosted its holdings in American International Group by 200.0% in the first quarter. DV Trading LLC now owns 3,000 shares of the insurance provider’s stock worth $226,000 after acquiring an additional 2,000 shares in the last quarter. First Nebraska Trust Co purchased a new position in shares of American International Group in the first quarter worth $241,000. Summitry LLC increased its holdings in American International Group by 103.7% in the 1st quarter. Summitry LLC now owns 8,145 shares of the insurance provider’s stock worth $613,000 after buying an additional 4,147 shares during the period. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of American International Group in the 1st quarter valued at about $399,000. 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 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.