American International Group’s (AIG) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of American International Group (NYSE:AIG) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $87.00 price target on the insurance provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets downgraded American International Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Morgan Stanley lowered their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Down 1.3 %

NYSE:AIG opened at $75.60 on Wednesday. The business’s fifty day moving average price is $75.15 and its 200 day moving average price is $75.66. The firm has a market capitalization of $48.68 billion, a price-to-earnings ratio of -22.30, a PEG ratio of 5.26 and a beta of 1.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group has a 1-year low of $62.75 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. During the same quarter in the prior year, the company earned $1.61 EPS. On average, sell-side analysts forecast that American International Group will post 4.99 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is -47.20%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Hedge funds have recently modified their holdings of the business. Forum Financial Management LP raised its stake in American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Quent Capital LLC increased its holdings in shares of American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after purchasing an additional 146 shares during the period. EagleClaw Capital Managment LLC raised its position in shares of American International Group by 0.5% during the third quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock valued at $2,225,000 after buying an additional 150 shares during the last quarter. New Republic Capital LLC grew its position in American International Group by 5.2% during the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after buying an additional 164 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after buying an additional 165 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Company Profile

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.