Royal Bank of Canada Reaffirms Outperform Rating for American International Group (NYSE:AIG)

American International Group (NYSE:AIG)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $87.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.67% from the stock’s current price.

Several other brokerages have also weighed in on AIG. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. TD Cowen cut their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Piper Sandler cut their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.31.

American International Group Stock Up 0.6 %

NYSE AIG traded up $0.48 on Wednesday, hitting $75.87. 1,877,657 shares of the stock were exchanged, compared to its average volume of 4,081,007. American International Group has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The company has a 50-day moving average price of $75.14 and a 200-day moving average price of $75.64. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The company has a market cap of $48.86 billion, a PE ratio of -58.68, a PEG ratio of 5.21 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $1.61 earnings per share. Sell-side analysts anticipate that American International Group will post 4.99 EPS for the current fiscal year.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

Institutional Trading of American International Group

Several hedge funds have recently modified their holdings of AIG. Swedbank AB purchased a new position in American International Group in the first quarter worth $99,951,000. Canada Pension Plan Investment Board grew its stake in shares of American International Group by 98.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock worth $148,053,000 after purchasing an additional 941,607 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% in the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after purchasing an additional 597,765 shares during the period. Finally, Senator Investment Group LP boosted its holdings in American International Group by 41.0% during the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after buying an additional 441,048 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

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.