American International Group (NYSE:AIG) Price Target Raised to $85.00

by · The Cerbat Gem

American International Group (NYSE:AIG – Free Report) had its target price boosted by Piper Sandler from $84.00 to $85.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

AIG has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American International Group in a report on Tuesday, September 29th. Mizuho dropped their target price on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Wells Fargo & Company increased their target price on shares of American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, November 5th. Finally, Wall Street Zen raised American International Group from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.00.

Read Our Latest Stock Report on AIG

American International Group Price Performance

NYSE:AIG opened at $82.81 on Monday. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a 50 day moving average of $77.77 and a two-hundred day moving average of $77.08. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $42.93 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.87 and a beta of 0.48.

American International Group (NYSE:AIG – Get Free Report) last released its earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.18. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.42 billion. American International Group had a return on equity of 10.86% and a net margin of 11.86%. During the same quarter last year, the business posted $2.20 earnings per share. On average, analysts expect that American International Group will post 8.13 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, December 16th. American International Group’s payout ratio is 32.57%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after acquiring an additional 1,961,270 shares during the period. State Street Corp increased its stake in American International Group by 0.8% during the second quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock worth $1,871,852,000 after purchasing an additional 196,969 shares during the period. Bank of New York Mellon Corp increased its stake in American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after purchasing an additional 474,035 shares during the period. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in American International Group during the second quarter worth about $464,539,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of American International Group by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after purchasing an additional 303,201 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

(Get Free Report)

American International Group, Inc. (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets. AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

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