Morgan Stanley Boosts American International Group (NYSE:AIG) Price Target to $79.00

American International Group (NYSE:AIG) had its price objective raised by Morgan Stanley from $72.00 to $79.00 in a research note published on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

AIG has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their target price on American International Group from $82.00 to $86.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. HSBC assumed coverage on American International Group in a research report on Thursday, December 28th. They issued a buy rating and a $86.00 price target for the company. Wells Fargo & Company raised their price target on American International Group from $74.00 to $80.00 and gave the stock an equal weight rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their price target on American International Group from $73.00 to $80.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, TD Cowen assumed coverage on American International Group in a research report on Wednesday, January 10th. They issued a market perform rating and a $78.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $78.06.

American International Group Stock Down 0.9 %

NYSE AIG opened at $73.05 on Monday. 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 company has a market capitalization of $49.74 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.04 and a beta of 1.03. American International Group has a one year low of $48.95 and a one year high of $78.95. The stock has a 50 day moving average price of $73.86 and a 200-day moving average price of $68.17.

American International Group (NYSE:AIG) last posted its earnings results 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 firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that American International Group will post 7.11 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Activity

In other news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Fairfield Bush & CO. purchased a new stake in shares of American International Group during the first quarter worth about $84,000. Cetera Advisor Networks LLC grew its stake in shares of American International Group by 11.7% during the first quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock worth $347,000 after acquiring an additional 578 shares during the last quarter. Blair William & Co. IL grew its stake in shares of American International Group by 1.2% during the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock worth $6,331,000 after acquiring an additional 1,207 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of American International Group by 20.1% during the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock worth $1,283,000 after acquiring an additional 3,428 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of American International Group by 43.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock worth $334,000 after acquiring an additional 1,608 shares during the last quarter. Hedge funds and other institutional investors own 90.60% 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. 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.