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

Shares of American International Group, Inc. (NYSE:AIG) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $90.1333.

AIG has been the subject of a number of research reports. Evercore ISI increased their target price on shares of American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Piper Sandler reduced their price objective on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, October 2nd. JPMorgan Chase & Co. increased their target price on American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price target on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th.

Hedge Funds Weigh In On American International Group

Several hedge funds have recently bought and sold shares of the company. Westfuller Advisors LLC purchased a new stake in American International Group in the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp increased its holdings in shares of American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares during the period. Eastern Bank raised its position in shares of American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after buying an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in American International Group during the second quarter valued at $32,000. Finally, Sachetta LLC grew its position 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 buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE:AIG opened at $76.80 on Friday. The company has a market capitalization of $42.55 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.77 and a beta of 0.73. The business has a fifty day simple moving average of $79.13 and a two-hundred day simple moving average of $81.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group has a 1 year low of $69.24 and a 1 year high of $88.07.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company earned $1.23 EPS. On average, analysts expect that American International Group will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s payout ratio is presently 32.73%.

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.