Evercore ISI Forecasts Strong Price Appreciation for American International Group (NYSE:AIG) Stock

American International Group (NYSE:AIG) had its price target upped by stock analysts at Evercore ISI from $81.00 to $89.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s target price would suggest a potential upside of 2.92% from the company’s current price.

AIG has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Friday, January 3rd. BMO Capital Markets lifted their price target on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 price target (down previously from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley increased their price objective on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

American International Group Stock Down 0.5 %

Shares of NYSE:AIG traded down $0.46 during mid-day trading on Tuesday, hitting $86.48. 815,729 shares of the company traded hands, compared to its average volume of 4,341,186. The firm has a market cap of $51.31 billion, a P/E ratio of -41.62, a PEG ratio of 1.01 and a beta of 0.98. American International Group has a 52-week low of $69.00 and a 52-week high of $87.51. The firm’s 50 day simple moving average is $78.77 and its 200 day simple moving average is $76.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, equities analysts anticipate that American International Group will post 6.24 EPS for the current year.

Insider Buying and Selling

In other American International Group news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $770,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of hedge funds have recently modified their holdings of the business. Capital Research Global Investors increased its stake in American International Group by 1.4% during the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after purchasing an additional 482,724 shares in the last quarter. Wellington Management Group LLP increased its position in shares of American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after acquiring an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the period. Franklin Resources Inc. raised its holdings in shares of American International Group by 14.0% during the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after acquiring an additional 1,284,354 shares during the period. Finally, Norges Bank bought a new stake in American International Group in the 4th quarter valued at $718,013,000. Institutional investors and hedge funds 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.