American International Group (NYSE:AIG) Price Target Raised to $99.00 at Jefferies Financial Group

American International Group (NYSE:AIG) had its price target increased by Jefferies Financial Group from $96.00 to $99.00 in a research report sent to investors on Tuesday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods dropped their price objective 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. The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Monday. Citigroup began coverage on American International Group in a research report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 target price for the company. Finally, Cfra Research raised American International Group to a “moderate buy” rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.44.

American International Group Stock Up 1.2%

Shares of AIG opened at $84.04 on Tuesday. The business’s 50 day moving average is $79.48 and its 200 day moving average is $81.69. The company has a market capitalization of $46.56 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.89 and a beta of 0.68. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 last year, the company earned $1.16 EPS. Research analysts expect that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 34.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AIG. Sachetta LLC raised its stake in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC acquired a new stake in American International Group in the second quarter valued at $33,000. Twin Peaks Wealth Advisors LLC acquired a new stake in American International Group in the second quarter valued at $32,000. Barrett & Company Inc. acquired a new stake in American International Group in the second quarter valued at $35,000. Finally, NewSquare Capital LLC raised its stake in American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after buying an additional 154 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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.