UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group (NYSE:AIG) had its target price raised by UBS Group from $94.00 to $98.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

A number of other research firms have also weighed in on AIG. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America lowered their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Citigroup boosted their price target on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, The Goldman Sachs Group raised their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, American International Group currently has an average rating of “Hold” and a consensus target price of $87.67.

American International Group Stock Down 1.8%

AIG stock opened at $79.63 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $76.01 and its 200 day moving average price is $77.02. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The company has a market cap of $42.22 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter last year, the business posted $1.17 earnings per share. On average, research analysts expect that American International Group will post 7.98 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 35.27%.

Institutional Trading of American International Group

A number of hedge funds have recently made changes to their positions in AIG. Geneos Wealth Management Inc. raised its holdings in American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after acquiring an additional 129 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 140 shares in the last quarter. GW&K Investment Management LLC raised its stake in shares of American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in shares of American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.