Keefe, Bruyette & Woods Has Lowered Expectations for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its target price dropped by equities research analysts at Keefe, Bruyette & Woods from $96.00 to $90.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.92% from the stock’s current price.

AIG has been the subject of several other reports. The Goldman Sachs Group upped their price target on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Piper Sandler lifted their target price on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Cantor Fitzgerald dropped their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Mizuho cut their target price on American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company dropped their price objective on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $87.68.

American International Group Stock Down 0.1%

Shares of NYSE AIG opened at $77.64 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $40.60 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.82 and a beta of 0.52. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The business has a 50-day simple moving average of $76.11 and a two-hundred day simple moving average of $76.51.

American International Group (NYSE:AIG) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the prior year, the company posted $1.81 EPS. Research analysts anticipate that American International Group will post 8.07 earnings per share for the current fiscal year.

Insider Buying and Selling at American International Group

In related news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the transaction, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

Several institutional investors have recently made changes to their positions in the business. L2 Asset Management LLC lifted its position in American International Group by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock worth $227,000 after buying an additional 139 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in American International Group by 1.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after acquiring an additional 146 shares during the last quarter. CENTRAL TRUST Co increased its position in American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares in the last quarter. Parkside Financial Bank & Trust increased its position in American International Group by 7.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider’s stock valued at $174,000 after acquiring an additional 158 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its position in American International Group by 6.3% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,925 shares of the insurance provider’s stock valued at $220,000 after acquiring an additional 174 shares in the last quarter. 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.