American International Group (NYSE:AIG) has been given a $55.00 target price by analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the insurance provider’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 33.20% from the stock’s current price.
AIG has been the subject of several other reports. Morgan Stanley set a $65.00 target price on shares of American International Group and gave the company a “buy” rating in a research report on Wednesday, October 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $62.00 price target on shares of American International Group in a report on Monday. Argus decreased their price target on shares of American International Group from $63.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, August 10th. Zacks Investment Research raised shares of American International Group from a “strong sell” rating to a “hold” rating and set a $60.00 price target on the stock in a report on Wednesday, July 4th. Finally, Deutsche Bank decreased their price target on shares of American International Group from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Monday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. American International Group presently has a consensus rating of “Buy” and a consensus target price of $62.25.
Shares of NYSE:AIG opened at $41.29 on Thursday. The company has a market capitalization of $36.39 billion, a PE ratio of 17.20, a PEG ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.55. American International Group has a 12 month low of $39.29 and a 12 month high of $65.30.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Perella Weinberg Partners Capital Management LP bought a new stake in American International Group during the 3rd quarter worth approximately $3,333,000. Robeco Institutional Asset Management B.V. grew its holdings in American International Group by 1.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 183,298 shares of the insurance provider’s stock worth $9,758,000 after acquiring an additional 3,302 shares during the last quarter. PhiloSmith Capital Corp bought a new stake in American International Group during the 3rd quarter worth approximately $1,065,000. ARGA Investment Management LP grew its holdings in American International Group by 13.9% during the 3rd quarter. ARGA Investment Management LP now owns 93,099 shares of the insurance provider’s stock worth $4,957,000 after acquiring an additional 11,350 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in American International Group during the 3rd quarter worth approximately $210,000. 89.26% of the stock is currently owned by hedge funds and other institutional investors.
About American International Group
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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