Citigroup Increases American International Group (NYSE:AIG) Price Target to $87.00

American International Group (NYSE:AIG) had its price target increased by equities researchers at Citigroup from $79.00 to $87.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Citigroup’s price target would suggest a potential upside of 19.87% from the company’s current price.

AIG has been the topic of several other reports. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Piper Sandler restated an “overweight” rating and set a $87.00 target price on shares of American International Group in a report on Monday, April 1st. HSBC initiated coverage on American International Group in a report on Thursday, December 28th. They set a “buy” rating and a $86.00 target price on the stock. TD Cowen initiated coverage on American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.06.

American International Group Trading Down 1.7 %

AIG stock opened at $72.58 on Tuesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group has a 12-month low of $48.95 and a 12-month high of $78.95. The stock has a market cap of $49.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.03 and a beta of 1.03. The business’s 50-day moving average is $74.01 and its 200 day moving average is $68.30.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the firm posted $1.36 EPS. American International Group’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that American International Group will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at American International Group

In other news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John C. Inglis acquired 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of American International Group

Large investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of American International Group by 18.7% during the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after acquiring an additional 319,948 shares during the period. American Century Companies Inc. grew its stake in shares of American International Group by 22.6% during the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after purchasing an additional 77,874 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after purchasing an additional 21,279 shares in the last quarter. Tritonpoint Wealth LLC acquired a new position in shares of American International Group during the fourth quarter worth $1,072,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of American International Group by 12.9% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 581,239 shares of the insurance provider’s stock worth $39,379,000 after purchasing an additional 66,603 shares in 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 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.