American International Group (NYSE:AIG) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of American International Group (NYSE:AIG) from a neutral rating to a buy rating in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has $90.00 price target on the insurance provider’s stock.

Several other research firms have also weighed in on AIG. Piper Sandler reduced their target price on American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. TD Cowen lifted their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. HSBC boosted their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Cantor Fitzgerald lifted their target price on shares of American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.95.

American International Group Trading Down 1.7%

American International Group stock opened at $78.72 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $42.24 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.61 and a beta of 0.58. American International Group has a one year low of $71.25 and a one year high of $88.07. The company’s fifty day moving average price is $77.54 and its two-hundred day moving average price is $78.93.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The company had revenue of $6.55 billion during the quarter, compared to analysts’ expectations of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, March 16th. American International Group’s dividend payout ratio (DPR) is currently 33.21%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its stake in American International Group by 79.6% during the third quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after acquiring an additional 12,645,616 shares during the period. Norges Bank bought a new stake in shares of American International Group in the 2nd quarter worth approximately $787,724,000. Vanguard Group Inc. grew its holdings in shares of American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock worth $5,378,635,000 after purchasing an additional 7,117,583 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of American International Group by 39.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after purchasing an additional 4,661,246 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of American International Group by 36.9% during the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after purchasing an additional 4,210,363 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 (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.