American International Group (NYSE:AIG) Price Target Raised to $97.00

American International Group (NYSE:AIG) had its price objective upped by JPMorgan Chase & Co. from $95.00 to $97.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on the stock. UBS Group increased their target price on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. The Goldman Sachs Group raised their price objective on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, William Blair raised shares of American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.53.

American International Group Trading Down 2.2%

AIG opened at $81.34 on Thursday. The stock has a market capitalization of $45.06 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.86 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. American International Group has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a 50-day simple moving average of $79.80 and a 200 day simple moving average of $81.66.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 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 net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the business earned $1.16 earnings per share. Analysts predict that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.2%. American International Group’s dividend payout ratio (DPR) is presently 34.09%.

Institutional Trading of American International Group

Several hedge funds have recently bought and sold shares of the business. GQG Partners LLC grew its position in American International Group by 33,315.0% in the 1st 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 during the period. Franklin Resources Inc. grew its position in American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares during the period. Bank of New York Mellon Corp grew its position in American International Group by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the period. Norges Bank acquired a new stake in American International Group in the 2nd quarter valued at $787,724,000. Finally, Hotchkis & Wiley Capital Management LLC grew its position in American International Group by 22.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after purchasing an additional 1,694,290 shares during the period. 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.