Brokerages Set American International Group, Inc. (NYSE:AIG) Price Target at $84.20

by · The Markets Daily

American International Group, Inc. (NYSE:AIG – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $84.27.

A number of brokerages have recently commented on AIG. Piper Sandler cut their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company reduced their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets increased their target price on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays began coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th.

Get Our Latest Analysis on American International Group

American International Group Price Performance

Shares of American International Group stock opened at $74.63 on Friday. The business’s fifty day moving average price is $73.79 and its 200 day moving average price is $75.51. American International Group has a twelve month low of $58.69 and a twelve month high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $49.53 billion, a P/E ratio of 11.14, a PEG ratio of 3.70 and a beta of 1.06.

American International Group (NYSE:AIG – Get Free Report) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. As a group, research analysts anticipate that American International Group will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s payout ratio is currently 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of American International Group stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its position in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after buying an additional 239 shares during the last quarter. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in American International Group during the first quarter worth about $29,000. Valued Wealth Advisors LLC lifted its holdings in American International Group by 303.3% in the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 339 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

(Get Free Report

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.

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