In a report issued on May 15, Ryan Tunis from Credit Suisse maintained a Buy rating on American International Group (NYSE: AIG), with a price target of $72. The company’s shares opened today at $62.08.
According to TipRanks.com, Tunis is a 1-star analyst with an average return of 0.0% and a 55.7% success rate. Tunis covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Arthur J Gallagher & Co, and Arch Capital Group Ltd.
Currently, the analyst consensus on American International Group is Moderate Buy and the average price target is $68, representing a 9.5% upside.
In a report issued on May 4, Wells Fargo also reiterated a Buy rating on the stock.
Based on American International Group’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $12.96 billion and quarterly net profit of $1.19 billion. In comparison, last year the company earned revenue of $12.83 billion and had a GAAP net loss of $183 million.
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. is an insurance company, which engages in the provision of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. Its offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. It operates through Commercial Insurance, Consumer Insurance, and Corporate and Other Category. The Commercial Insurance has three operating segments: Property Casualty, Mortgage Guaranty and Institutional Markets. It provides insurance products and services for commercial and institutional customers. The Consumer Insurance also has three operating segments: Retirement, Life and Personal Insurance. It brings a portfolio of retirement, life insurance and personal insurance products offered through distribution networks. The Corporate and Other Category segment includes AIG Parent as well as certain legacy assets and run-off insurance businesses. The company was founded by Cornelius Vander Starr in 1919 and is headquartered in New York, NY.