American International Group (NYSE:AIG) Price Target Raised to $84.00

American International Group (NYSE:AIG) had its price objective hoisted by Piper Sandler from $80.00 to $84.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

AIG has been the subject of several other research reports. Cantor Fitzgerald raised shares of American International Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $92.00 in a research report on Thursday, July 9th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. HSBC reduced their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Bank of America lowered their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods dropped their price target on American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.39.

American International Group Price Performance

Shares of AIG opened at $76.14 on Monday. The stock has a 50 day simple moving average of $77.50 and a 200 day simple moving average of $76.87. American International Group has a 52-week low of $71.25 and a 52-week high of $87.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $39.81 billion, a PE ratio of 13.92, a P/E/G ratio of 0.71 and a beta of 0.53.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.03%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the company posted $1.81 EPS. Sell-side analysts predict that American International Group will post 7.99 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s payout ratio is 36.56%.

Institutional Investors Weigh In On American International Group

Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia boosted its holdings in shares of American International Group by 131.5% in the 2nd quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock valued at $87,607,000 after buying an additional 667,791 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in American International Group during the second quarter worth $2,645,000. EP Wealth Advisors LLC increased its holdings in American International Group by 31.3% during the second quarter. EP Wealth Advisors LLC now owns 12,613 shares of the insurance provider’s stock worth $940,000 after buying an additional 3,010 shares during the last quarter. Ieq Capital LLC raised its position in American International Group by 29.6% during the second quarter. Ieq Capital LLC now owns 65,907 shares of the insurance provider’s stock worth $4,912,000 after acquiring an additional 15,040 shares in the last quarter. Finally, Callan Family Office LLC raised its position in American International Group by 2.0% during the second quarter. Callan Family Office LLC now owns 26,313 shares of the insurance provider’s stock worth $1,961,000 after acquiring an additional 512 shares in the last quarter. Institutional investors and hedge funds 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.