Citigroup Boosts American International Group (NYSE:AIG) Price Target to $87.00

American International Group (NYSE:AIG) had its price objective raised by Citigroup from $79.00 to $87.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada upped their target price on shares of American International Group from $76.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Morgan Stanley upped their target price on shares of American International Group from $72.00 to $79.00 and gave the company an equal weight rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the company a neutral rating in a research note on Monday, April 8th. UBS Group upped their target price on shares of American International Group from $83.00 to $84.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American International Group has an average rating of Moderate Buy and a consensus target price of $79.06.

American International Group Trading Up 1.1 %

Shares of NYSE AIG opened at $73.82 on Tuesday. The company’s 50 day simple moving average is $73.96 and its 200 day simple moving average is $68.27. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The firm has a market capitalization of $50.27 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts predict that American International Group will post 7.11 EPS for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is currently 28.86%.

Insider Activity at American International Group

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was 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 directly owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Trading of American International Group

A number of large investors have recently added to or reduced their stakes in AIG. Norges Bank acquired a new stake in American International Group in the fourth quarter valued at $736,063,000. Morgan Stanley lifted its stake in shares of American International Group by 55.1% during the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock worth $665,247,000 after buying an additional 3,738,346 shares during the last quarter. Sessa Capital IM L.P. acquired a new stake in shares of American International Group during the 1st quarter worth about $73,040,000. Deutsche Bank AG lifted its stake in shares of American International Group by 58.1% during the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock worth $185,677,000 after buying an additional 1,354,652 shares during the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of American International Group during the 1st quarter worth about $57,511,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

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.