American International Group (NYSE:AIG) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

American International Group (NYSE:AIG) had its target price hoisted by equities research analysts at Royal Bank Of Canada from $85.00 to $87.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 12.55% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. HSBC dropped their price objective on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Bank of America decreased their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. UBS Group raised their target price on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $88.17.

American International Group Stock Performance

NYSE AIG traded down $1.48 on Monday, reaching $77.30. The stock had a trading volume of 647,105 shares, compared to its average volume of 4,344,310. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $40.99 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.52. The firm has a fifty day moving average of $77.28 and a two-hundred day moving average of $76.77. American International Group has a 1-year low of $71.25 and a 1-year high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.03% and a net margin of 11.13%.During the same quarter last year, the firm earned $1.81 earnings per share. On average, equities research analysts anticipate that American International Group will post 7.99 EPS for the current year.

Hedge Funds Weigh In On American International Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of American International Group by 20.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock valued at $7,608,000 after purchasing an additional 15,116 shares during the last quarter. Norges Bank purchased a new position in American International Group during the fourth quarter worth about $636,782,000. Danske Bank A S grew its position in American International Group by 7.7% in the 4th quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock worth $30,111,000 after purchasing an additional 25,200 shares in the last quarter. Lee Danner & Bass Inc. increased its stake in American International Group by 194.2% in the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock valued at $2,542,000 after buying an additional 22,300 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of American International Group by 4.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,156,343 shares of the insurance provider’s stock worth $97,445,000 after buying an additional 50,775 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.