American International Group (NYSE:AIG) Price Target Raised to $87.00

American International Group (NYSE:AIGFree Report) had its price target raised by Wells Fargo & Company from $85.00 to $87.00 in a research report sent to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada assumed coverage on American International Group in a research note on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price objective on the stock. Evercore reduced their price target on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Bank of America lowered their price objective on American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 16th. Wall Street Zen lowered shares of American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, TD Cowen lifted their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $87.32.

Get Our Latest Research Report on American International Group

American International Group Stock Down 0.7%

Shares of AIG opened at $78.26 on Friday. The company’s 50-day simple moving average is $78.89 and its 200-day simple moving average is $78.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group has a 1 year low of $71.25 and a 1 year high of $88.07. The stock has a market capitalization of $41.99 billion, a PE ratio of 14.44, a P/E/G ratio of 0.60 and a beta of 0.61.

American International Group (NYSE:AIGGet Free Report) last announced its earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the firm earned $1.30 EPS. Analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Institutional Trading of American International Group

A number of hedge funds have recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new position in American International Group in the 4th quarter valued at $3,463,000. Kestra Advisory Services LLC increased its stake in shares of American International Group by 131.2% during the fourth quarter. Kestra Advisory Services LLC now owns 53,714 shares of the insurance provider’s stock worth $4,595,000 after acquiring an additional 30,480 shares during the period. Parkside Financial Bank & Trust lifted its position in American International Group by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,996 shares of the insurance provider’s stock valued at $256,000 after purchasing an additional 839 shares during the period. Volterra Technologies LP acquired a new stake in American International Group in the fourth quarter valued at about $2,132,000. Finally, Zuckerman Investment Group LLC purchased a new stake in American International Group in the 4th quarter valued at approximately $214,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting American International Group

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About American International Group

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American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

Further Reading

Analyst Recommendations for American International Group (NYSE:AIG)

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