American International Group Inc. (NYSE:AIG) had its target price increased by Barclays PLC from $60.00 to $68.00 in a research note published on Friday. The brokerage currently has an overweight rating on the insurance provider’s stock.
A number of other equities research analysts have also recently issued reports on the company. Credit Suisse Group AG set a $60.00 target price on American International Group and gave the company a hold rating in a research note on Monday, September 12th. Vetr cut American International Group from a strong-buy rating to a buy rating and set a $59.24 target price on the stock. in a research note on Wednesday, June 22nd. Zacks Investment Research upgraded American International Group from a strong sell rating to a hold rating in a research note on Thursday, July 21st. Deutsche Bank AG raised their target price on American International Group from $58.00 to $59.00 and gave the company a hold rating in a research note on Wednesday, August 3rd. Finally, Atlantic Securities upgraded American International Group from a neutral rating to an overweight rating and set a $60.00 target price on the stock in a research note on Thursday, June 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $65.07.
Shares of American International Group (NYSE:AIG) opened at 59.34 on Friday. The company has a 50-day moving average of $58.89 and a 200-day moving average of $55.94. The firm’s market capitalization is $63.53 billion. American International Group has a 52 week low of $48.41 and a 52 week high of $64.31.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, August 2nd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.05. American International Group had a positive return on equity of 1.33% and a negative net margin of 0.64%. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, equities analysts forecast that American International Group will post $4.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.16%. American International Group’s payout ratio is presently -799.95%.
A number of large investors have recently made changes to their positions in AIG. CIBC World Markets Inc. raised its stake in shares of American International Group by 21.1% in the first quarter. CIBC World Markets Inc. now owns 48,704 shares of the insurance provider’s stock worth $2,632,000 after buying an additional 8,492 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of American International Group by 27.3% in the first quarter. Teachers Advisors Inc. now owns 2,791,868 shares of the insurance provider’s stock worth $150,900,000 after buying an additional 599,230 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of American International Group by 19.7% in the first quarter. Prudential Financial Inc. now owns 2,554,741 shares of the insurance provider’s stock worth $138,084,000 after buying an additional 419,860 shares during the last quarter. Agur Provident & Training Funds Management Ltd. acquired a new stake in shares of American International Group during the first quarter worth approximately $1,415,000. Finally, FDO Partners LLC acquired a new stake in shares of American International Group during the first quarter worth approximately $1,498,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.
About American International Group
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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