American International Group, Inc. (NYSE:AIG) Receives $83.47 Consensus PT from Analysts

Shares of American International Group, Inc. (NYSE:AIG) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $83.47.

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lowered their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods lowered their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. BMO Capital Markets lifted their price target on American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Bank of America increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, TD Cowen cut their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 39,964,738 shares of company stock valued at $1,132,432,195 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of AIG. Fortitude Family Office LLC boosted its holdings in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in American International Group in the second quarter valued at $27,000. Rise Advisors LLC purchased a new stake in American International Group during the first quarter valued at about $29,000. Valued Wealth Advisors LLC raised its holdings in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

American International Group stock opened at $74.45 on Thursday. The company has a market cap of $49.41 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. American International Group has a one year low of $57.02 and a one year high of $80.83. The business has a fifty day moving average of $74.84 and a two-hundred day moving average of $75.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the firm posted $1.75 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, analysts predict that American International Group will post 6.4 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

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.