American International Group’s (AIG) “Outperform” Rating Reiterated at Royal Bank of Canada

American International Group (NYSE:AIG)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $87.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 14.67% from the company’s previous close.

A number of other research firms have also issued reports on AIG. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Bank of America upped their price objective on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group upped their target price on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley lowered their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.31.

American International Group Price Performance

Shares of AIG stock traded up $0.48 during mid-day trading on Wednesday, reaching $75.87. The stock had a trading volume of 1,877,657 shares, compared to its average volume of 4,081,007. The company has a market cap of $48.86 billion, a P/E ratio of -58.68, a price-to-earnings-growth ratio of 5.21 and a beta of 1.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group has a 12-month low of $62.52 and a 12-month high of $80.83. The business has a 50-day simple moving average of $75.14 and a 200 day simple moving average of $75.64.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period last year, the firm posted $1.61 EPS. On average, sell-side analysts anticipate that American International Group will post 4.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently made changes to their positions in the business. Forum Financial Management LP raised its position in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the period. Quent Capital LLC boosted its holdings in American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after acquiring an additional 146 shares during the period. New Republic Capital LLC grew its position in American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 164 shares in the last quarter. Avantax Advisory Services Inc. grew its position in American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 165 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of American International Group by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock valued at $276,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.