American International Group (NYSE:AIG) Hits New 52-Week High at $78.16

Shares of American International Group, Inc. (NYSE:AIGGet Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $78.16 and last traded at $77.99, with a volume of 447744 shares traded. The stock had previously closed at $77.39.

Analyst Ratings Changes

Several research analysts recently weighed in on AIG shares. Wells Fargo & Company boosted their price objective on shares of American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. BMO Capital Markets dropped their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $75.00 to $77.00 in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, HSBC assumed coverage on shares of American International Group in a research report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $74.06.

Read Our Latest Analysis on AIG

American International Group Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The stock’s 50-day moving average is $71.95 and its 200 day moving average is $66.75. The firm has a market cap of $53.23 billion, a P/E ratio of 15.67, a PEG ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. The business had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. On average, research analysts predict that American International Group, Inc. will post 7.1 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is presently 28.86%.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Hedge funds have recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of American International Group by 0.6% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after buying an additional 154 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of American International Group by 0.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock valued at $1,257,000 after buying an additional 157 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of American International Group by 3.0% in the fourth quarter. Gotham Asset Management LLC now owns 5,568 shares of the insurance provider’s stock valued at $377,000 after buying an additional 161 shares in the last quarter. Meeder Advisory Services Inc. raised its position in shares of American International Group by 1.3% in the third quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after buying an additional 162 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in American International Group by 3.6% in the third quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 167 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

About American International Group

(Get Free Report)

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.

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