Mizuho Issues Pessimistic Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price target lowered by research analysts at Mizuho from $85.00 to $83.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price objective indicates a potential upside of 9.62% from the company’s current price.

Other analysts also recently issued reports about the company. Cantor Fitzgerald lowered their price objective on American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Piper Sandler lifted their target price on American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Morgan Stanley decreased their price target on American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, UBS Group raised their price objective on American International Group from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $88.11.

American International Group Trading Up 0.8%

Shares of AIG stock traded up $0.60 during trading hours on Wednesday, hitting $75.71. 2,252,779 shares of the company were exchanged, compared to its average volume of 4,313,787. The company has a 50 day simple moving average of $76.33 and a two-hundred day simple moving average of $76.42. The firm has a market cap of $39.59 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group has a fifty-two week low of $71.25 and a fifty-two week high of $87.29.

American International Group (NYSE:AIG) last issued its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period in the previous year, the company posted $1.81 EPS. Equities analysts anticipate that American International Group will post 8.04 EPS for the current year.

Insider Buying and Selling at American International Group

In related news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. The trade was a 25.23% 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. 0.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AIG. L2 Asset Management LLC boosted its stake in shares of American International Group by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock valued at $227,000 after purchasing an additional 139 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares during the period. CENTRAL TRUST Co lifted its stake in American International Group by 48.7% in the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in American International Group by 7.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 158 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its position in American International Group by 6.3% during the first quarter. Mayfair Advisory Group LLC now owns 2,925 shares of the insurance provider’s stock valued at $220,000 after buying an additional 174 shares during the period. 90.60% of the stock is owned by institutional investors.

About American International Group

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.