American International Group, Inc. (NYSE:AIG) has received a consensus recommendation of “Buy” from the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $68.95.

A number of equities research analysts have recently weighed in on the company. BidaskClub cut American International Group from a “hold” rating to a “sell” rating in a report on Sunday. Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price target (up previously from $57.00) on shares of American International Group in a report on Wednesday, August 9th. Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price target on shares of American International Group in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st.

In related news, CEO Brian Duperreault bought 80,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was bought at an average price of $61.48 per share, with a total value of $4,918,400.00. Following the purchase, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Large investors have recently modified their holdings of the stock. Israel Discount Bank of New York bought a new stake in shares of American International Group during the first quarter worth about $145,000. Peddock Capital Advisors LLC raised its stake in American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. raised its stake in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. acquired a new stake in American International Group during the first quarter valued at about $184,000. 87.76% of the stock is owned by institutional investors.

American International Group (AIG) traded up 0.52% during trading on Tuesday, reaching $63.21. The company’s stock had a trading volume of 910,906 shares. American International Group has a 52 week low of $57.35 and a 52 week high of $67.47. The stock’s market capitalization is $57.10 billion. The firm has a 50 day moving average of $64.07 and a 200 day moving average of $63.03.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the company posted $0.98 earnings per share. Analysts expect that American International Group will post $5.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is currently -711.07%.

American International Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 4.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: “American International Group, Inc. (AIG) Given Average Recommendation of “Buy” by Brokerages” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/08/15/american-international-group-inc-aig-given-average-recommendation-of-buy-by-brokerages-2.html.

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.

Analyst Recommendations for American International Group (NYSE:AIG)

Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.