American International Group, Inc. (AIG) Given Average Recommendation of “Buy” by Brokerages
American International Group, Inc. (NYSE:AIG) has earned an average rating of “Buy” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $64.81.
A number of research firms have recently weighed in on AIG. Zacks Investment Research lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research report on Monday, April 24th. Credit Suisse Group set a $72.00 price objective on shares of American International Group and gave the company a “buy” rating in a research report on Saturday, April 15th. Finally, TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd.
In related news, CEO Brian Duperreault bought 80,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the acquisition, the chief executive officer now owns 80,000 shares in the company, valued at $4,918,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd acquired a new stake in American International Group during the first quarter valued at about $370,000. Private Bank & Trust Co. increased its stake in American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock valued at $802,000 after buying an additional 2,003 shares in the last quarter. Trust Co increased its stake in American International Group by 6.4% in the fourth quarter. Trust Co now owns 15,061 shares of the insurance provider’s stock valued at $984,000 after buying an additional 910 shares in the last quarter. Confluence Investment Management LLC increased its stake in American International Group by 8.0% in the first quarter. Confluence Investment Management LLC now owns 922,992 shares of the insurance provider’s stock valued at $57,622,000 after buying an additional 68,541 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock valued at $12,183,000 after buying an additional 152,647 shares in the last quarter. Institutional investors own 86.16% of the company’s stock.
Shares of American International Group (NYSE:AIG) traded down 0.42% during mid-day trading on Friday, reaching $63.96. 1,714,673 shares of the company traded hands. The stock’s 50-day moving average is $63.59 and its 200-day moving average is $63.21. The company has a market capitalization of $59.21 billion, a P/E ratio of 130.00 and a beta of 1.13. American International Group has a 52 week low of $53.93 and a 52 week high of $67.47.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.25. The company had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $11 billion. American International Group had a net margin of 1.00% and a return on equity of 5.36%. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, equities analysts predict that American International Group will post $5.02 EPS for the current fiscal year.
American International Group announced that its board has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th were issued a $0.32 dividend. The ex-dividend date was Monday, June 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. American International Group’s payout ratio is 412.92%.
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American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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