American International Group (NYSE:AIG) Given New $95.00 Price Target at Piper Sandler

American International Group (NYSE:AIG) had its price objective hoisted by Piper Sandler from $88.00 to $95.00 in a report issued on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Other research analysts also recently issued reports about the company. Bank of America boosted their target price on American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Cantor Fitzgerald restated a “neutral” rating on shares of American International Group in a research note on Thursday, December 11th. The Goldman Sachs Group decreased their price objective on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company raised their price target on shares of American International Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $89.28.

American International Group Trading Up 0.5%

NYSE AIG opened at $86.47 on Monday. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a 50 day moving average price of $78.84 and a 200 day moving average price of $80.31. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. The firm has a market cap of $46.65 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.89 and a beta of 0.62.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. American International Group had a net margin of 11.89% and a return on equity of 9.09%. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, sell-side analysts forecast that American International Group will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be 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 is Tuesday, December 16th. American International Group’s dividend payout ratio is 32.73%.

Institutional Investors Weigh In On American International Group

Several hedge funds have recently added to or reduced their stakes in AIG. Vanguard Group Inc. grew its holdings in American International Group by 11.6% during the third quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after acquiring an additional 7,117,583 shares during the period. Capital Research Global Investors boosted its position in American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after purchasing an additional 1,899,203 shares during the period. Franklin Resources Inc. increased its holdings in shares of American International Group by 6.1% during 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 in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of American International Group by 4.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock valued at $951,230,000 after purchasing an additional 499,330 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.