American International Group (NYSE:AIG) Stock Price Target Cut by Morgan Stanley

American International Group (NYSE:AIG) had its price target lowered by research analysts at Morgan Stanley from $81.00 to $80.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.38% from the company’s current price.

A number of other brokerages also recently weighed in on AIG. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Barclays lifted their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. UBS Group increased their target price on shares of American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald lowered their price target on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.21.

American International Group Stock Performance

American International Group stock traded up $0.09 during mid-day trading on Tuesday, reaching $75.20. 2,109,127 shares of the company’s stock were exchanged, compared to its average volume of 4,309,455. The business’s fifty day simple moving average is $76.45 and its 200 day simple moving average is $76.42. The firm has a market capitalization of $39.32 billion, a PE ratio of 13.75, a P/E/G ratio of 0.80 and a beta of 0.52. American International Group has a one year low of $71.25 and a one year high of $87.29. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the prior year, the company earned $1.81 EPS. On average, sell-side analysts expect that American International Group will post 8.04 earnings per share for the current year.

Insider Activity at American International Group

In related news, insider Peter Zaffino sold 36,829 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in shares of American International Group during the 2nd quarter valued at about $496,890,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in American International Group in the second quarter worth approximately $464,539,000. Wellington Management Group LLP grew its position in American International Group by 6.9% during the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the last quarter. Man Group plc raised its stake in shares of American International Group by 104.6% during the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after acquiring an additional 1,847,194 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of American International Group by 197.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 827,288 shares of the insurance provider’s stock worth $62,253,000 after acquiring an additional 1,678,585 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization whose principal operating business is general insurance. Through its property and casualty operations, AIG provides commercial and personal insurance products, including coverage for businesses, multinational companies, individuals, and specialty risks. Its offerings include property, casualty, liability, marine, aviation, cyber, accident, and travel insurance, along with other risk-management solutions.

AIG serves customers through a network spanning approximately 190 countries and jurisdictions.