JPMorgan Chase & Co. Cuts American International Group (NYSE:AIG) Price Target to $83.00

American International Group (NYSE:AIG) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $89.00 to $83.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.00% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Evercore ISI dropped their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Finally, StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.40.

American International Group Price Performance

AIG opened at $72.81 on Friday. The company has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $74.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market cap of $45.42 billion, a P/E ratio of -21.48, a P/E/G ratio of 7.30 and a beta of 1.05. American International Group has a 12 month low of $66.06 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter last year, the firm posted $1.61 earnings per share. On average, research analysts expect that American International Group will post 5.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC bought a new position in shares of American International Group during the third quarter worth approximately $494,000. M&T Bank Corp grew its holdings in American International Group by 329.0% in the 3rd quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock valued at $7,247,000 after buying an additional 75,894 shares in the last quarter. Intech Investment Management LLC increased its position in American International Group by 15.8% during the 3rd quarter. Intech Investment Management LLC now owns 95,531 shares of the insurance provider’s stock worth $6,996,000 after buying an additional 13,028 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of American International Group by 6.1% during the second quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after buying an additional 54,419 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of American International Group by 1.3% in the third quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock valued at $53,785,000 after acquiring an additional 9,118 shares during the period. 90.60% of the stock is 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.