American International Group, Inc. (AIG) Given Average Recommendation of “Buy” by Brokerages
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.
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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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