American International Group (NYSE:AIG) Price Target Raised to $80.00

American International Group (NYSE:AIG) had its price target hoisted by Evercore ISI from $74.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the insurance provider’s stock.

AIG has been the topic of a number of other research reports. Piper Sandler restated an overweight rating and set a $87.00 price target on shares of American International Group in a report on Monday, April 1st. Bank of America downgraded American International Group from a buy rating to a neutral rating and upped their target price for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Royal Bank of Canada lifted their price target on shares of American International Group from $76.00 to $80.00 and gave the company an outperform rating in a report on Thursday, February 15th. TD Cowen started coverage on shares of American International Group in a report on Wednesday, January 10th. They issued a market perform rating and a $78.00 price objective for the company. 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 for the company in a research report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $77.35.

American International Group Stock Performance

NYSE AIG opened at $73.68 on Thursday. The company has a 50-day simple moving average of $73.77 and a two-hundred day simple moving average of $68.04. American International Group has a 12-month low of $48.95 and a 12-month high of $78.95. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.04 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm earned $1.36 EPS. The company’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that American International Group will post 7.11 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio is presently 28.86%.

Insider Activity at American International Group

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

Hedge Funds Weigh In On American International Group

Hedge funds have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in American International Group by 0.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after acquiring an additional 154 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of American International Group by 0.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after purchasing an additional 157 shares during the last quarter. Gotham Asset Management LLC lifted its position in shares of American International Group by 3.0% in the fourth quarter. Gotham Asset Management LLC now owns 5,568 shares of the insurance provider’s stock worth $377,000 after buying an additional 161 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in American International Group by 1.3% during the third quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after buying an additional 162 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors 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.