American International Group (NYSE:AIG) Price Target Lowered to $78.00 at Barclays

American International Group (NYSE:AIG) had its price objective cut by equities research analysts at Barclays from $79.00 to $78.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price objective indicates a potential upside of 2.09% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Bank of America decreased their target price on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research note on Monday, December 29th. Evercore decreased their price objective on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. Piper Sandler dropped their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Finally, Wells Fargo & Company lifted their price target on American International Group from $85.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $87.82.

American International Group Stock Performance

Shares of AIG opened at $76.40 on Tuesday. The company has a market capitalization of $41.02 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.58 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The company’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $78.23. American International Group has a 1 year low of $71.25 and a 1 year high of $87.46.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, sell-side analysts predict that American International Group will post 6.24 EPS for the current year.

Hedge Funds Weigh In On American International Group

Several large investors have recently added to or reduced their stakes in AIG. Modus Advisors LLC acquired a new position in shares of American International Group in the fourth quarter valued at $27,000. Navalign LLC acquired a new stake in shares of American International Group during the 4th quarter valued at about $29,000. Westfuller Advisors LLC bought a new stake in American International Group in the third quarter valued at about $26,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group in the fourth quarter worth about $29,000. Finally, Atlantic Union Bankshares Corp raised its stake in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.