American International Group, Inc. (NYSE:AIG) Receives $80.44 Average Price Target from Brokerages

Shares of American International Group, Inc. (NYSE:AIG) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $80.44.

Several research firms recently issued reports on AIG. Evercore ISI increased their target price on American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company raised their price objective on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Citigroup increased their price target on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th.

Insider Buying and Selling

In other American International Group news, Director John C. Inglis acquired 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the company’s 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 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 the SEC website. Also, Director John C. Inglis acquired 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, 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. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Valued Wealth Advisors LLC grew its holdings in American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 276 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of American International Group during the 1st quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in shares of American International Group during the 3rd quarter worth about $26,000. CENTRAL TRUST Co increased its stake in American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of American International Group during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 0.0 %

AIG opened at $79.88 on Tuesday. The stock has a market cap of $53.01 billion, a PE ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02. The business has a 50 day moving average of $75.88 and a 200-day moving average of $69.91. American International Group has a 52 week low of $51.86 and a 52 week high of $80.76. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same period in the prior year, the company posted $1.63 earnings per share. Equities research analysts predict that American International Group will post 7.05 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio (DPR) is presently 21.49%.

American International Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.