American International Group Inc. [NYSE: AIG] gained 0.76% or 0.46 points to close at $61.11 with a heavy trading volume of 6205094 shares. The company report on February 27, 2023 that Diana Murphy and Vanessa Wittman to Join AIG’s Board of Directors.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
American International Group, Inc. (NYSE: AIG) today announced that its Board of Directors has elected Diana Murphy and Vanessa Wittman as independent Directors of the company, effective March 16, 2023.
“Diana and Vanessa have extensive and diverse executive and board experience, and we are delighted that they will join the AIG Board,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “Diana brings significant business acumen, a track record of leading complex companies through strategic and organizational change, and a deep commitment to community service. Vanessa has an outstanding reputation and deep expertise as a results-driven financial expert, having served in executive finance roles at global organizations across a range of industries.”.
It opened the trading session at $60.80, the shares rose to $61.39 and dropped to $60.61, the range by which the price of stock traded the whole day. The daily chart for AIG points out that the company has recorded 15.30% gains over the past six months. However, it is still -29.88% lower than its most recent low trading price.
If we look at the average trading volume of 4.62M shares, AIG reached to a volume of 6205094 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about American International Group Inc. [AIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AIG shares is $71.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AIG stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Atlantic Equities have made an estimate for American International Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 22, 2023. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Market Perform. The new note on the price target was released on January 20, 2023, representing the official price target for American International Group Inc. stock. Previously, the target price had yet another raise to $70, while Morgan Stanley analysts kept a Overweight rating on AIG stock. On October 12, 2022, analysts increased their price target for AIG shares from 57 to 64.
The Average True Range (ATR) for American International Group Inc. is set at 1.24, with the Price to Sales ratio for AIG stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 2.76. Price to Free Cash Flow for AIG in the course of the last twelve months was 14.00.
Trading performance analysis for AIG stock
American International Group Inc. [AIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.33. With this latest performance, AIG shares dropped by -3.51% in over the last four-week period, additionally plugging by 15.30% over the last 6 months – not to mention a drop of -3.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AIG stock in for the last two-week period is set at 48.71, with the RSI for the last a single of trading hit 50.81, and the three-weeks RSI is set at 48.69 for American International Group Inc. [AIG]. The present Moving Average for the last 50 days of trading for this stock 62.24, while it was recorded at 60.58 for the last single week of trading, and 56.65 for the last 200 days.
American International Group Inc. [AIG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and American International Group Inc. [AIG] shares currently have an operating margin of +28.99. American International Group Inc.’s Net Margin is presently recorded at +18.21.
Return on Equity for this stock inclined to 19.40, with Return on Assets sitting at 2.10.
American International Group Inc. [AIG]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American International Group Inc. go to 15.98%.
An analysis of insider ownership at American International Group Inc. [AIG]
There are presently around $40,728 million, or 92.00% of AIG stock, in the hands of institutional investors. The top three institutional holders of AIG stocks are: VANGUARD GROUP INC with ownership of 76,173,119, which is approximately -0.843% of the company’s market cap and around 0.29% of the total institutional ownership; BLACKROCK INC., holding 63,476,328 shares of the stock with an approximate value of $3.88 billion in AIG stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.53 billion in AIG stock with ownership of nearly 30.412% of the company’s market capitalization.
Positions in American International Group Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 424 institutional holders increased their position in American International Group Inc. [NYSE:AIG] by around 60,291,673 shares. Additionally, 465 investors decreased positions by around 67,980,961 shares, while 143 investors held positions by with 538,197,487 shares. The mentioned changes placed institutional holdings at 666,470,121 shares, according to the latest SEC report filing. AIG stock had 138 new institutional investments in for a total of 13,917,651 shares, while 88 institutional investors sold positions of 8,136,536 shares during the same period.