Brokerages Set American International Group, Inc. (NYSE:AIG) Price Target at $84.80

Shares of American International Group, Inc. (NYSE:AIG) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $84.80.

Several research firms have recently commented on AIG. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods decreased their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after buying an additional 6,119,996 shares during the period. Prana Capital Management LP lifted its holdings in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after acquiring an additional 1,391,859 shares during the last quarter. Swedbank AB bought a new position in shares of American International Group during the 1st quarter valued at about $99,951,000. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after purchasing an additional 597,765 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Stock Performance

American International Group stock opened at $75.98 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s fifty day moving average price is $75.56 and its 200 day moving average price is $75.53. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of -22.41, a price-to-earnings-growth ratio of 7.54 and a beta of 1.05. American International Group has a 12-month low of $64.54 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. On average, research analysts forecast that American International Group will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is currently -47.20%.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.