American International Group (NYSE:AIG) has been assigned a $65.00 price objective by analysts at Morgan Stanley in a report issued on Wednesday, October 17th. The brokerage presently has a “buy” rating on the insurance provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 48.33% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. ValuEngine raised American International Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Zacks Investment Research cut American International Group from a “buy” rating to a “hold” rating in a report on Monday, July 16th. JPMorgan Chase & Co. set a $63.00 price objective on American International Group and gave the company a “hold” rating in a report on Sunday, August 5th. Finally, Argus cut their price objective on American International Group from $63.00 to $58.00 and set a “buy” rating for the company in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. American International Group currently has a consensus rating of “Buy” and a consensus target price of $60.71.
Shares of American International Group stock traded down $0.43 during midday trading on Wednesday, hitting $43.82. The company had a trading volume of 5,399,978 shares, compared to its average volume of 9,726,040. The company has a market cap of $39.30 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.45 and a beta of 1.46. American International Group has a 1-year low of $39.29 and a 1-year high of $65.05. The company has a current ratio of 0.26, a quick ratio of 0.28 and a debt-to-equity ratio of 0.58.
A number of hedge funds have recently made changes to their positions in AIG. Rational Advisors LLC grew its position in shares of American International Group by 127.7% during the 1st quarter. Rational Advisors LLC now owns 5,692 shares of the insurance provider’s stock worth $309,000 after buying an additional 3,192 shares during the period. Summit Trail Advisors LLC grew its position in shares of American International Group by 2,967.9% during the 1st quarter. Summit Trail Advisors LLC now owns 136,769 shares of the insurance provider’s stock worth $137,000 after buying an additional 132,311 shares during the period. Suntrust Banks Inc. grew its position in shares of American International Group by 12.4% during the 1st quarter. Suntrust Banks Inc. now owns 36,736 shares of the insurance provider’s stock worth $1,998,000 after buying an additional 4,048 shares during the period. Nicola Wealth Management LTD. acquired a new position in shares of American International Group during the 1st quarter worth about $2,884,000. Finally, Greenline Partners LLC grew its position in shares of American International Group by 1.5% in the 1st quarter. Greenline Partners LLC now owns 137,205 shares of the insurance provider’s stock valued at $7,467,000 after purchasing an additional 1,970 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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