Bank of America Issues Pessimistic Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price objective lowered by analysts at Bank of America from $89.00 to $80.00 in a research note issued on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Bank of America‘s target price points to a potential upside of 9.81% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley decreased their target price on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Wall Street Zen downgraded American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Wells Fargo & Company lifted their price objective on shares of American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Cantor Fitzgerald lowered their target price on shares of American International Group from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $87.68.

American International Group Stock Performance

AIG stock opened at $72.85 on Friday. The stock’s 50 day simple moving average is $79.63 and its 200 day simple moving average is $79.80. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group has a 12-month low of $71.74 and a 12-month high of $88.07. The stock has a market capitalization of $39.31 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.71 and a beta of 0.62.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, research analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AIG. Westfuller Advisors LLC purchased a new stake in shares of American International Group during the third quarter worth $26,000. Atlantic Union Bankshares Corp boosted its holdings in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares during the last quarter. Eastern Bank grew its stake in shares of American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after buying an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of American International Group in the 2nd quarter valued at approximately $32,000. Finally, GFG Capital LLC acquired a new stake in shares of American International Group during the 2nd quarter worth approximately $33,000. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.