American International Group (NYSE:AIG) Rating Increased to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of American International Group (NYSE:AIG) from a neutral rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat reports. The firm currently has $92.00 price objective on the insurance provider’s stock, up from their prior price objective of $85.00.

Several other research firms have also commented on AIG. Citigroup lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. HSBC cut their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday. UBS Group boosted their price objective on shares of American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho lifted their price target on shares of American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price objective on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.44.

American International Group Trading Down 0.8%

Shares of AIG stock opened at $79.01 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29. The company has a market capitalization of $41.89 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53. The business’s fifty day moving average is $76.11 and its 200 day moving average is $76.97.

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

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. American International Group’s dividend payout ratio (DPR) is 35.27%.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock valued at $2,045,657,000 after buying an additional 1,899,203 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after purchasing an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after purchasing an additional 1,846,979 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after acquiring an additional 474,035 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Trending Headlines about American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG to overweight and lifted its target to $92, saying Q1 momentum appears to be continuing. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: UBS raised its target to $98 and kept a buy rating, calling for further upside in AIG shares. American International Group had its price target raised by UBS Group AG
• Positive Sentiment: Wells Fargo and Mizuho also increased their price targets to $89, reinforcing the bullish sentiment around AIG. American International Group had its price target raised by Wells Fargo & Company and Mizuho
• Neutral Sentiment: Recent commentary highlighted that AIG has already had a large rally, prompting questions about whether the stock can justify its valuation after a 92% run. Can American International Group (AIG) Justify Its Price After A 92% Run?
• Neutral Sentiment: Zacks published optimistic notes on AIG’s earnings-surprise history and dividend appeal, which may support investor interest but do not represent a direct catalyst. Why American International Group (AIG) is Poised to Beat Earnings Estimates Again

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.