JPMorgan Chase & Co. Boosts American International Group (NYSE:AIG) Price Target to $80.00

American International Group (NYSE:AIG) had its price objective raised by JPMorgan Chase & Co. from $73.00 to $80.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Piper Sandler restated an overweight rating and issued a $87.00 price objective on shares of American International Group in a report on Monday, April 1st. Wells Fargo & Company upped their target price on shares of American International Group from $66.00 to $74.00 and gave the stock an equal weight rating in a research note on Wednesday, February 21st. TD Cowen initiated coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a market perform rating and a $78.00 target price on the stock. Royal Bank of Canada upped their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Finally, BMO Capital Markets dropped their target price on shares of American International Group from $83.00 to $81.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $76.00.

American International Group Price Performance

Shares of AIG opened at $75.32 on Monday. The stock has a market cap of $51.29 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The firm’s 50-day simple moving average is $73.59 and its two-hundred day simple moving average is $67.87.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. Analysts anticipate that American International Group will post 7.1 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.91%. American International Group’s payout ratio is presently 28.86%.

Insiders Place Their Bets

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of AIG. Fairfield Bush & CO. purchased a new stake in shares of American International Group in the first quarter worth $84,000. Cetera Advisor Networks LLC increased its stake in shares of American International Group by 11.7% in the first quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock worth $347,000 after purchasing an additional 578 shares in the last quarter. Blair William & Co. IL increased its stake in shares of American International Group by 1.2% in the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock worth $6,331,000 after purchasing an additional 1,207 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of American International Group by 20.1% in the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock worth $1,283,000 after purchasing an additional 3,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in American International Group by 43.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 1,608 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.