American International Group (NYSE:AIG) Rating Reiterated by Royal Bank of Canada

American International Group (NYSE:AIG)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They currently have a $87.00 price target on the insurance provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 14.53% from the stock’s current price.

Several other brokerages also recently weighed in on AIG. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. HSBC downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Wednesday, May 15th. Citigroup upped their price objective on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley upped their price objective on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Piper Sandler upped their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, American International Group presently has an average rating of “Hold” and a consensus target price of $81.88.

American International Group Stock Performance

AIG opened at $75.96 on Tuesday. American International Group has a 52-week low of $57.02 and a 52-week high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company has a market cap of $50.41 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.08. The firm’s 50-day moving average price is $76.74 and its 200-day moving average price is $73.72.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, equities analysts anticipate that American International Group will post 7.02 EPS for the current fiscal year.

American International Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of American International Group in the 1st quarter worth $29,000. Versant Capital Management Inc increased its stake in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 250 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 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.