American International Group, Inc. (NYSE:AIG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of American International Group, Inc. (NYSE:AIG) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $88.12.

AIG has been the topic of a number of recent analyst reports. Barclays lifted their price objective on American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. BMO Capital Markets lifted their price objective on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. Morgan Stanley lifted their price objective on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group lifted their price objective on American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 11th.

American International Group Price Performance

NYSE AIG opened at $82.58 on Friday. American International Group has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The stock’s 50-day moving average is $83.77 and its two-hundred day moving average is $79.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market cap of $47.59 billion, a P/E ratio of -31.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The company had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same period last year, the company earned $1.25 earnings per share. On average, analysts anticipate that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.18%. This is an increase from American International Group’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, June 13th. American International Group’s payout ratio is presently -67.67%.

Insiders Place Their Bets

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president directly owned 21,400 shares of the company’s stock, valued at approximately $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On American International Group

A number of institutional investors have recently added to or reduced their stakes in AIG. GQG Partners LLC boosted its holdings in American International Group by 33,315.0% during the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock valued at $1,643,995,000 after purchasing an additional 18,852,949 shares in the last quarter. Norges Bank acquired a new stake in American International Group during the fourth quarter valued at approximately $718,013,000. Nuveen LLC acquired a new position in shares of American International Group in the 1st quarter worth approximately $440,273,000. AQR Capital Management LLC boosted its holdings in shares of American International Group by 184.4% in the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of American International Group by 151.6% in the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock worth $285,682,000 after acquiring an additional 1,980,001 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

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.