American International Group (NYSE:AIG) Given New $90.00 Price Target at Evercore ISI

American International Group (NYSE:AIG) had its target price lifted by Evercore ISI from $89.00 to $90.00 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has an in-line rating on the insurance provider’s stock.

AIG has been the subject of a number of other research reports. Wolfe Research began coverage on American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Cfra Research raised American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Wall Street Zen lowered American International Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 23rd. William Blair upgraded American International Group to a “strong-buy” rating in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods cut their price target on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.33.

American International Group Stock Up 1.5%

Shares of American International Group stock opened at $79.71 on Wednesday. The stock has a market capitalization of $44.16 billion, a P/E ratio of 15.10, a PEG ratio of 0.84 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $79.27 and a two-hundred day moving average price of $81.75. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities analysts expect that American International Group will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio is presently 34.09%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sachetta LLC raised its stake in American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC acquired a new position in American International Group during the second quarter worth $33,000. Twin Peaks Wealth Advisors LLC acquired a new position in American International Group during the second quarter worth $32,000. Barrett & Company Inc. acquired a new position in American International Group during the second quarter worth $35,000. Finally, NewSquare Capital LLC raised its stake in American International Group by 58.6% during the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 154 shares in the last quarter. 90.60% of the stock is currently 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.