American International Group Inc. (AIG) Testing Investors’ Patience Right Now

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GLBE Stock

T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in American International Group Inc. (NYSE:AIG). The institutional investor has increased its shareholding in the Financial company by 13.84% to 78.61 million shares with purchase of 9.56 million shares. This fresh investment now brings its stake to 9.13% valued currently at $2.53 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 39710.0 to 37.68 million shares. And Harris Associates LP has lifted its position by 5.62% or 1.8 million shares – to 33.77 million shares.

With over 7.5 million American International Group Inc. (AIG) shares trading Monday and a closing price of $29.14 on the day, the dollar volume was approximately $218.61 million. The shares have shown a negative weekly performance of -1.39% and its price on 08/31/20 lost nearly -0.78%. Currently, there are 866.97M common shares owned by the public and among those 860.73M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for AIG have a consensus price objective of $37.57. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $31.00 should the stock experience a downside. Incidentally, analysts’ outlook for the American International Group Inc. stock is 2.50 for the next 12 months. The average price target is 22.44% above its last price level and an upside to the estimated low will see the stock gain 6.0% over that period. But an upside of 39.29% will see the stock hit the forecast high price target while mean target price for the stock is $38.00.

Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 243,717 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 89,013 shares.

The top 3 mutual fund holders in American International Group Inc. are Vanguard Total Stock Market Index, T Rowe Price Value Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 24.49 million shares of the company’s stock, all valued at over $786.98 million. The company sold 54836.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. T Rowe Price Value Fund bought 1.18 million shares to see its total holdings expand to 18.98 million shares valued at over $610.12 million and representing 2.20% of the shares outstanding. Vanguard 500 Index Fund sold -0.11 million shares to bring its total holdings to over 17.76 million shares at a value of $570.76 million. Vanguard 500 Index Fund now owns shares totaling to 2.06% of the shares outstanding.

Shares of American International Group Inc. (NYSE: AIG) opened at $29.25, down -$0.12 from a prior closing price of $29.37. However, the script later closed the day at $29.14, down -0.78%. The company’s stock has a 5-day price change of -1.39% and -7.46% over the past three months. AIG shares are trading -43.23% year to date (YTD), with the 12-month market performance down to -44.00% lower. It has a 12-month low price of $16.07 and touched a high of $58.66 over the same period. Currently, 7.5 million shares have been traded, compared to an average intraday trading volume of 6.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.20%, -4.91%, and -21.56% respectively.

Institutional ownership of American International Group Inc. (NYSE: AIG) shares accounts for 92.70% of the company’s 866.97M shares outstanding. Mutual fund holders own 54.75%, while other institutional holders and individual stakeholders account for 6.77% and 37.05% respectively.

It has a market capitalization of $25.37B and a beta (3y monthly) value of 1.41. The earnings-per-share (ttm) stands at -$5.47. The company has a debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.88% over the week and 3.54% over the month.

Analysts forecast that American International Group Inc. (AIG) will achieve an EPS of $0.81 for the current quarter, $0.91 for the next quarter and $4.31 for 2021. The lowest estimate earnings-per-share for the quarter is $0.49 while analysts give the company a high EPS estimate of $1.06. Comparatively, EPS for the current quarter was $0.56 a year ago. Earnings per share for the fiscal year are expected to decrease by -46.00%, and 74.13% over the next financial year. EPS should grow at an annualized rate of 3.96% over the next five years, compared to -6.80% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate American International Group Inc. (AIG) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 9 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the AIG, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on August 06, 2020, with the firm’s price target at $34-$38. BofA/Merrill coverage for the American International Group Inc. (AIG) stock in a research note released on June 01, 2020 offered a Neutral rating with a price target of. William Blair was of a view on May 06, 2020 that the stock is Mkt Perform, while Standpoint Research gave the stock Buy rating on February 27, 2020, issuing a price target of. Citigroup on their part issued Neutral rating on January 21, 2020.


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