BMO Capital Markets Forecasts Strong Price Appreciation for American International Group (NYSE:AIG) Stock

American International Group (NYSE:AIG) had its target price lifted by equities researchers at BMO Capital Markets from $83.00 to $89.00 in a report issued on Thursday,MarketScreener reports. BMO Capital Markets’ price target suggests a potential upside of 16.65% from the company’s current price.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America reduced their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. UBS Group raised their price objective on shares of American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Mizuho raised their price objective on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.06.

American International Group Stock Down 0.2%

Shares of NYSE:AIG opened at $76.30 on Thursday. The company has a market cap of $40.45 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.74 and a beta of 0.53. The firm’s 50-day simple moving average is $76.70 and its 200-day simple moving average is $77.77. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.46.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. The business had revenue of $7.02 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that American International Group will post 7.9 earnings per share for the current year.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of American International Group by 11.6% in the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares during the last quarter. Capital Research Global Investors raised its position in shares of American International Group by 79.6% in the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after buying an additional 12,645,616 shares during the last quarter. Wellington Management Group LLP raised its position in shares of American International Group by 7.9% in the third quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of American International Group by 39.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Institutional investors and hedge funds 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.