Barclays Increases American International Group (NYSE:AIG) Price Target to $93.00

American International Group (NYSE:AIG) had its price target boosted by equities researchers at Barclays from $92.00 to $93.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price indicates a potential upside of 11.31% from the company’s previous close.

AIG has been the subject of several other research reports. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, March 5th. Morgan Stanley lifted their price objective on American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, April 4th. Evercore ISI raised their price target on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Finally, Hsbc Global Res upgraded shares of American International Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.71.

American International Group Price Performance

NYSE:AIG opened at $83.55 on Friday. American International Group has a 12-month low of $69.00 and a 12-month high of $88.07. The stock’s 50 day moving average price is $82.13 and its two-hundred day moving average price is $77.36. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.75 billion, a price-to-earnings ratio of -40.17, a P/E/G ratio of 1.01 and a beta of 0.63.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the previous year, the company posted $1.25 earnings per share. On average, analysts anticipate that American International Group will post 6.24 earnings per share for the current year.

Insider Activity at American International Group

In related news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The shares were acquired 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 directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in American International Group by 24.7% in the third quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock valued at $201,286,000 after buying an additional 544,110 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of American International Group in the 3rd quarter valued at about $1,005,000. Synovus Financial Corp boosted its position in shares of American International Group by 6.5% during the 3rd quarter. Synovus Financial Corp now owns 42,684 shares of the insurance provider’s stock valued at $3,126,000 after purchasing an additional 2,603 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of American International Group by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after buying an additional 457,821 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in American International Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock worth $53,785,000 after purchasing an additional 9,118 shares during the period. Institutional investors and hedge funds 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.