American International Group, Inc. (NYSE:AIG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of American International Group, Inc. (NYSE:AIG) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $89.4375.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group cut their target price on American International Group from $86.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Royal Bank Of Canada began coverage on American International Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a research note on Monday. Bank of America boosted their price target on shares of American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Keefe, Bruyette & Woods cut their price target on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th.

American International Group Stock Up 0.4%

American International Group stock opened at $76.89 on Wednesday. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07. The stock has a market cap of $41.49 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.81 and a beta of 0.62. The company’s 50-day moving average price is $78.42 and its two-hundred day moving average price is $80.47. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period in the prior year, the business posted $1.23 EPS. On average, analysts expect that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio is currently 32.73%.

Hedge Funds Weigh In On American International Group

Hedge funds have recently modified their holdings of the stock. GQG Partners LLC lifted its holdings in shares of American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Capital Research Global Investors raised its holdings in American International Group by 79.6% during the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after buying an additional 12,645,616 shares during the period. Norges Bank acquired a new stake in American International Group during the 2nd quarter worth about $787,724,000. Vanguard Group Inc. lifted its stake in American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after buying an additional 7,117,583 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of American International Group in the first quarter worth about $440,273,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.