American International Group (NYSE:AIG) Price Target Raised to $89.00 at Piper Sandler

American International Group (NYSE:AIG) had its target price upped by Piper Sandler from $87.00 to $89.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

A number of other research analysts have also recently commented on AIG. Wells Fargo & Company increased their price target on American International Group from $74.00 to $80.00 and gave the company an equal weight rating in a research note on Thursday, April 11th. Royal Bank of Canada increased their price objective on American International Group from $76.00 to $80.00 and gave the company an outperform rating in a report on Thursday, February 15th. UBS Group increased their price objective on American International Group from $83.00 to $84.00 and gave the company a buy rating in a report on Thursday, February 22nd. HSBC assumed coverage on American International Group in a report on Thursday, December 28th. They issued a buy rating and a $86.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on American International Group from $73.00 to $80.00 and gave the stock a neutral rating in a report on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $79.18.

American International Group Stock Up 1.7 %

NYSE AIG opened at $74.23 on Friday. The business has a fifty day moving average price of $74.21 and a two-hundred day moving average price of $68.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. American International Group has a fifty-two week low of $48.95 and a fifty-two week high of $78.95. The stock has a market capitalization of $50.55 billion, a PE ratio of 14.88, a PEG ratio of 1.03 and a beta of 1.03.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $1.36 EPS. American International Group’s revenue was up .0% compared to the same quarter last year. Equities analysts expect that American International Group will post 7.03 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.94%. American International Group’s payout ratio is 28.86%.

Insiders Place Their Bets

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in American International Group in the 4th quarter valued at approximately $736,063,000. Morgan Stanley grew its stake in American International Group by 55.1% in the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after buying an additional 3,738,346 shares in the last quarter. Sessa Capital IM L.P. purchased a new position in American International Group in the 1st quarter valued at approximately $73,040,000. Deutsche Bank AG grew its stake in American International Group by 58.1% in the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock valued at $185,677,000 after buying an additional 1,354,652 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new position in American International Group in the 1st quarter valued at approximately $57,511,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.