American International Group (NYSE:AIG) Shares Gap Up on Analyst Upgrade

Shares of American International Group, Inc. (NYSE:AIG – Get Rating) gapped up prior to trading on Tuesday after Piper Sandler raised their price target on the stock from $76.00 to $77.00. The stock had previously closed at $53.96, but opened at $55.40. American International Group shares last traded at $56.00, with a volume of 957,008 shares changing hands.

Other equities research analysts have also issued reports about the company. Citigroup decreased their price target on American International Group from $71.00 to $70.00 in a research report on Tuesday, April 18th. Evercore ISI decreased their price target on American International Group from $70.00 to $63.00 and set an “in-line” rating on the stock in a research report on Thursday, April 13th. Credit Suisse Group restated a “neutral” rating and set a $60.00 price target on shares of American International Group in a research report on Friday, April 21st. Keefe, Bruyette & Woods decreased their price target on American International Group from $76.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 18th. Finally, Barclays increased their price target on American International Group from $55.00 to $58.00 in a research report on Tuesday, May 9th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, American International Group presently has an average rating of “Hold” and a consensus target price of $67.07.

Institutional Trading of American International Group

Hedge funds have recently added to or reduced their stakes in the business. Accurate Wealth Management LLC acquired a new stake in shares of American International Group in the 4th quarter valued at about $25,000. Arcus Capital Partners LLC bought a new position in shares of American International Group in the 4th quarter valued at about $25,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of American International Group in the 4th quarter valued at about $28,000. Thompson Investment Management Inc. bought a new position in shares of American International Group in the 1st quarter valued at about $28,000. Finally, Avalon Trust Co bought a new position in shares of American International Group in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 89.01% of the company’s stock.

American International Group Price Performance

The company has a market cap of $40.36 billion, a P/E ratio of 7.28, a PEG ratio of 0.83 and a beta of 1.11. The company has a fifty day moving average price of $51.27 and a two-hundred day moving average price of $57.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.30 and a current ratio of 0.30.

American International Group (NYSE:AIG – Get Rating) last posted its quarterly earnings results on Friday, May 5th. The insurance provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. American International Group had a return on equity of 8.55% and a net margin of 11.71%. The business had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $11.35 billion. During the same quarter last year, the company posted $1.30 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 6.47 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.44 dividend on an annualized basis and a yield of 2.58%. This is a boost from American International Group’s previous quarterly dividend of $0.32. American International Group’s dividend payout ratio (DPR) is presently 16.71%.

American International Group Company Profile

(Get Rating)

American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.