The Goldman Sachs Group Has Lowered Expectations for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its price target cut by The Goldman Sachs Group from $90.00 to $85.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 13.06% from the company’s current price.

Several other research firms have also recently weighed in on AIG. Wells Fargo & Company cut their price target on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Bank of America decreased their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Citigroup lifted their price objective on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Morgan Stanley reduced their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Finally, Mizuho upped their price target on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.78.

American International Group Stock Performance

American International Group stock opened at $75.18 on Monday. American International Group has a 1-year low of $71.25 and a 1-year high of $87.46. The firm has a market cap of $39.86 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.69 and a beta of 0.52. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $76.04 and a 200-day moving average of $77.44.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. Sell-side analysts expect that American International Group will post 7.99 EPS for the current year.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently modified their holdings of AIG. Brighton Jones LLC acquired a new stake in American International Group in the fourth quarter valued at $1,091,000. Sivia Capital Partners LLC increased its holdings in American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after buying an additional 1,185 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of American International Group during the 2nd quarter valued at approximately $217,000. Ieq Capital LLC grew its holdings in shares of American International Group by 11.5% in the 2nd quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after acquiring an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC purchased a new stake in American International Group during the second quarter worth $269,000. 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.