American International Group (NYSE:AIG) PT Raised to $86.00

American International Group (NYSE:AIG) had its price objective lifted by Bank of America from $82.00 to $86.00 in a report published on Thursday, Benzinga reports. Bank of America currently has a neutral rating on the insurance provider’s stock.

A number of other brokerages have also weighed in on AIG. Piper Sandler cut their price target 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. TD Cowen reduced their target price on shares of American International Group from $83.00 to $80.00 and set a hold rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company lowered their target price on American International Group from $79.00 to $77.00 and set an equal weight rating for the company in a report on Friday, August 9th. Morgan Stanley reduced their price objective on American International Group from $82.00 to $80.00 and set an equal weight rating for the company in a research report on Wednesday, July 10th. Finally, Barclays began coverage on American International Group in a research report on Wednesday, September 4th. They issued an overweight rating and a $90.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $84.50.

American International Group Stock Up 0.9 %

Shares of NYSE:AIG opened at $77.23 on Thursday. The company has a 50 day moving average price of $73.76 and a two-hundred day moving average price of $75.50. The company has a market capitalization of $49.73 billion, a PE ratio of -59.87, a PEG ratio of 3.88 and a beta of 1.06. American International Group has a 52 week low of $58.69 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $1.75 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts forecast that American International Group will post 5.09 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. American International Group’s dividend payout ratio is currently -124.03%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On American International Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its holdings in American International Group by 20.6% in the 3rd quarter. Creative Planning now owns 50,014 shares of the insurance provider’s stock valued at $3,663,000 after buying an additional 8,556 shares in the last quarter. CX Institutional grew its stake in shares of American International Group by 3.6% in the third quarter. CX Institutional now owns 5,426 shares of the insurance provider’s stock valued at $397,000 after acquiring an additional 187 shares in the last quarter. Stablepoint Partners LLC increased its position in American International Group by 1.0% during the third quarter. Stablepoint Partners LLC now owns 17,149 shares of the insurance provider’s stock worth $1,256,000 after acquiring an additional 173 shares during the period. Procyon Advisors LLC raised its stake in American International Group by 28.4% in the 3rd quarter. Procyon Advisors LLC now owns 25,601 shares of the insurance provider’s stock worth $1,875,000 after purchasing an additional 5,658 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in American International Group by 43.5% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 853,346 shares of the insurance provider’s stock valued at $62,491,000 after purchasing an additional 258,553 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

About American International Group

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.