American International Group (NYSE:AIG) Price Target Raised to $77.00

American International Group (NYSE:AIG) had its price objective upped by Wells Fargo & Company from $76.00 to $77.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

A number of other analysts have also recently commented on AIG. Jefferies Financial Group upped their price target on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Bank of America lifted their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Evercore ISI dropped their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Finally, UBS Group raised their target price on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Hold” and a consensus target price of $84.13.

American International Group Stock Performance

Shares of AIG opened at $74.62 on Tuesday. American International Group has a 1 year low of $66.06 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s fifty day moving average price is $73.94 and its two-hundred day moving average price is $74.67. The firm has a market cap of $46.54 billion, a PE ratio of -22.01, a PEG ratio of 5.51 and a beta of 1.06.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter last year, the firm posted $1.61 EPS. On average, equities research analysts forecast that American International Group will post 4.91 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. American International Group’s dividend payout ratio is presently -47.20%.

Institutional Trading of American International Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the last quarter. Prana Capital Management LP boosted its holdings in shares of American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after purchasing an additional 1,391,859 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of American International Group by 5.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of American International Group by 83.6% during the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after buying an additional 597,765 shares in the last quarter. Finally, Barclays PLC lifted its position in American International Group by 24.7% in the 3rd quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after buying an additional 544,110 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

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.