American International Group (NYSE:AIG – Get Rating) had its target price raised by Credit Suisse Group from $50.00 to $60.00 in a report published on Monday morning, The Fly reports. Credit Suisse Group currently has a neutral rating on the insurance provider’s stock.
Several other analysts also recently commented on AIG. Barclays reduced their target price on American International Group from $63.00 to $56.00 and set an equal weight rating for the company in a research note on Thursday, July 14th. StockNews.com downgraded American International Group from a buy rating to a hold rating in a research note on Saturday, July 2nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, American International Group has a consensus rating of Hold and an average target price of $65.29.
American International Group Stock Performance
Shares of American International Group stock opened at $56.53 on Monday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $52.78 and a two-hundred day moving average price of $56.61. American International Group has a 1-year low of $48.40 and a 1-year high of $65.73. The company has a market cap of $42.99 billion, a P/E ratio of 3.71 and a beta of 1.17.
American International Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.26%. American International Group’s dividend payout ratio (DPR) is currently 8.40%.
Insider Buying and Selling at American International Group
In other American International Group news, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total transaction of $918,170.00. Following the completion of the transaction, the executive vice president now owns 45,444 shares in the company, valued at approximately $2,454,430.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.
Hedge Funds Weigh In On American International Group
Several hedge funds have recently modified their holdings of AIG. Norges Bank purchased a new stake in shares of American International Group during the 4th quarter valued at $506,692,000. GQG Partners LLC purchased a new stake in shares of American International Group during the 1st quarter valued at $499,693,000. AQR Capital Management LLC increased its position in shares of American International Group by 175.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,371,929 shares of the insurance provider’s stock valued at $167,551,000 after purchasing an additional 2,148,227 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of American International Group by 12.2% during the 4th quarter. Nuveen Asset Management LLC now owns 11,557,773 shares of the insurance provider’s stock valued at $657,176,000 after purchasing an additional 1,256,195 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of American International Group by 82.5% during the 2nd quarter. Prudential Financial Inc. now owns 2,622,075 shares of the insurance provider’s stock valued at $134,059,000 after purchasing an additional 1,185,104 shares during the last quarter. Institutional investors own 90.18% of the company’s stock.
About American International Group
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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