American International Group (NYSE:AIG) Given New $98.00 Price Target at Barclays

American International Group (NYSE:AIG) had its target price raised by research analysts at Barclays from $90.00 to $98.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price target suggests a potential upside of 12.67% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Evercore ISI lifted their price objective on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a report on Tuesday. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Morgan Stanley increased their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Wednesday, March 5th. Finally, UBS Group cut their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.50.

American International Group Stock Performance

Shares of American International Group stock opened at $86.98 on Wednesday. American International Group has a 12 month low of $69.00 and a 12 month high of $87.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $51.61 billion, a PE ratio of -41.59, a PEG ratio of 1.01 and a beta of 0.98. The stock’s fifty day simple moving average is $79.00 and its 200 day simple moving average is $76.15.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. On average, research analysts predict that American International Group will post 6.24 EPS for the current year.

Insider Buying and Selling at American International Group

In related news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of large investors have recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in shares of American International Group by 1.4% during the 4th quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock worth $2,540,050,000 after acquiring an additional 482,724 shares during the period. Wellington Management Group LLP raised its position in American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after purchasing an additional 461,912 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after purchasing an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American International Group in the 4th quarter valued at $718,013,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.