In a report issued on October 15, Mark Dwelle from RBC Capital maintained a Buy rating on American International Group (AIG), with a price target of $38.00. The company’s shares closed last Friday at $30.29.
According to TipRanks.com, Dwelle is a 5-star analyst with an average return of 7.8% and a 60.8% success rate. Dwelle covers the Financial sector, focusing on stocks such as International General Insurance Holdings, American Equity Investment Life, and Marsh & Mclennan Companies.
American International Group has an analyst consensus of Strong Buy, with a price target consensus of $38.14, which is a 27.1% upside from current levels. In a report issued on October 8, UBS also maintained a Buy rating on the stock with a $44.00 price target.
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Based on American International Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $9.44 billion and GAAP net loss of $7.93 billion. In comparison, last year the company earned revenue of $12.55 billion and had a net profit of $1.11 billion.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AIG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
American International Group, Inc. engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement, Other Operations, and Legacy Portfolio. The General Insurance segment consists of insurance businesses in North America and International business areas. The Life and Retirement segment includes Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets. The Other Operations segment covers income from assets held by the company and other corporate subsidiaries. The Legacy Portfolio segment consists of run-off insurance lines and legacy investments. The company was founded by Cornelius Vander Starr in 1919 and is headquartered in New York, NY.
