Piper Sandler Raises American International Group (NYSE:AIG) Price Target to $77.00

American International Group (NYSE:AIG – Get Rating) had its target price hoisted by Piper Sandler from $76.00 to $77.00 in a research report released on Tuesday morning, The Fly reports.

Several other research firms also recently commented on AIG. TheStreet downgraded shares of American International Group from a b rating to a c+ rating in a report on Thursday, May 4th. Credit Suisse Group reaffirmed a neutral rating and issued a $60.00 target price on shares of American International Group in a research note on Friday, April 21st. StockNews.com began coverage on American International Group in a research note on Thursday, May 18th. They set a hold rating for the company. Barclays raised their price target on American International Group from $55.00 to $58.00 in a research note on Tuesday, May 9th. Finally, Keefe, Bruyette & Woods decreased their price objective on American International Group from $76.00 to $73.00 and set an outperform rating for the company in a report on Tuesday, April 18th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $67.07.

American International Group Price Performance

AIG opened at $55.77 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $40.36 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 0.83 and a beta of 1.11. The firm’s fifty day moving average price is $51.27 and its two-hundred day moving average price is $57.80. American International Group has a 1 year low of $45.66 and a 1 year high of $64.88.

American International Group (NYSE:AIG – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $11.35 billion. American International Group had a net margin of 11.71% and a return on equity of 8.55%. During the same period in the previous year, the firm earned $1.30 EPS. As a group, analysts anticipate that American International Group will post 6.47 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.36 per share. This is a boost from American International Group’s previous quarterly dividend of $0.32. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, June 15th. American International Group’s payout ratio is presently 16.71%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AIG. Fairfield Bush & CO. bought a new stake in American International Group in the 1st quarter worth approximately $84,000. Cetera Advisor Networks LLC lifted its holdings in shares of American International Group by 11.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock worth $347,000 after buying an additional 578 shares during the period. Blair William & Co. IL boosted its position in American International Group by 1.2% during the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock valued at $6,331,000 after purchasing an additional 1,207 shares in the last quarter. Cetera Investment Advisers boosted its position in American International Group by 20.1% during the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock valued at $1,283,000 after purchasing an additional 3,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in American International Group by 43.3% in the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock valued at $334,000 after buying an additional 1,608 shares during the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

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American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.