Royal Bank of Canada Reiterates “Outperform” Rating for American International Group (NYSE:AIG)

American International Group (NYSE:AIG)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $87.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.59% from the company’s previous close.

AIG has been the topic of several other research reports. StockNews.com cut shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lowered their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Finally, Citigroup dropped their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, American International Group currently has a consensus rating of “Hold” and an average target price of $84.31.

American International Group Stock Down 0.6 %

AIG stock opened at $76.59 on Wednesday. American International Group has a 1-year low of $62.52 and a 1-year high of $80.83. The business has a fifty day moving average price of $75.17 and a 200-day moving average price of $75.65. The stock has a market capitalization of $49.32 billion, a P/E ratio of -22.59, a P/E/G ratio of 5.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same quarter last year, the company posted $1.61 earnings per share. Equities analysts forecast that American International Group will post 4.99 earnings per share for the current fiscal year.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several hedge funds have recently added to or reduced their stakes in AIG. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Y.D. More Investments Ltd purchased a new stake in shares of American International Group during the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC raised its position in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Versant Capital Management Inc lifted its holdings in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of American International Group in the third quarter valued at $46,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

About American International Group

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.