American International Group (NYSE:AIG) Price Target Raised to $89.00 at BMO Capital Markets

American International Group (NYSE:AIG) had its target price boosted by BMO Capital Markets from $83.00 to $89.00 in a research report report published on Thursday morning,MarketScreener reports.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald boosted their price target on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday. Evercore lowered their target price on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. Keefe, Bruyette & Woods upped their target price on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America lowered their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, Barclays upped their target price on American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Price Performance

American International Group stock traded up $0.26 during midday trading on Thursday, reaching $76.69. The company’s stock had a trading volume of 431,996 shares, compared to its average volume of 4,654,849. American International Group has a 52 week low of $71.25 and a 52 week high of $87.46. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $76.70 and a 200-day moving average price of $77.77. The stock has a market cap of $40.66 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.75 and a beta of 0.53.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, April 30th. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. The company had revenue of $7.02 billion for 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 posted $1.17 earnings per share. On average, sell-side analysts predict that American International Group will post 7.9 EPS for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 31.75%.

Institutional Investors Weigh In On American International Group

Several large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its stake in shares of American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after acquiring an additional 129 shares during the period. Westwood Holdings Group Inc. boosted its stake in 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 period. JFS Wealth Advisors LLC boosted its stake in American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 131 shares during the period. Howard Capital Management Inc. boosted its stake in American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider’s stock worth $370,000 after purchasing an additional 138 shares during the period. Finally, Larson Financial Group LLC boosted its stake in 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 worth $107,000 after purchasing an additional 140 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.