Barclays Increases American International Group Price Target to $64.00 (AIG)
Equities research analysts at Barclays boosted their price objective on shares of American International Group (NYSE:AIG) from $56.00 to $64.00 in a research note issued to investors on Friday. The firm currently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 16.47% from the stock’s previous close.
American International Group (NYSE:AIG) opened at 54.825 on Friday. American International Group has a 1-year low of $41.53 and a 1-year high of $55.42. The stock has a 50-day moving average of $52.86 and a 200-day moving average of $50.55. The company has a market cap of $79.312 billion and a P/E ratio of 9.56.
American International Group (NYSE:AIG) last announced its earnings results on Monday, May 5th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.16. The company had revenue of $8.23 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that American International Group will post $4.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 24th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 6th.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of American International Group in a research note on Thursday, May 29th. They now have a $58.00 price target on the stock, up previously from $55.00. Separately, analysts at Goldman Sachs upgraded shares of American International Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $63.00 price target on the stock, up previously from $50.00. Finally, analysts at BMO Capital Markets reiterated a “buy” rating on shares of American International Group in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.50.
American International Group, Inc (NYSE:AIG) is a global insurance company.
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