American International Group (NYSE:AIG) had its target price upped by Wells Fargo & Co from $57.00 to $62.00 in a research note published on Thursday, The Fly reports. The brokerage currently has an outperform rating on the insurance provider’s stock.
AIG has been the topic of several other research reports. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Deutsche Bank cut American International Group from a buy rating to a hold rating and set a $53.35 target price on the stock. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Royal Bank of Canada cut Zayo Group from an outperform rating to a sector perform rating and boosted their target price for the stock from $33.00 to $35.00 in a research report on Wednesday, May 8th. Barclays set a $34.00 target price on DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. Finally, Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $55.86.
AIG opened at $56.27 on Thursday. The firm’s 50 day moving average is $53.35. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. The stock has a market cap of $48.25 billion, a P/E ratio of 48.09, a PEG ratio of 1.02 and a beta of 1.19. American International Group has a 52 week low of $36.16 and a 52 week high of $56.36.
American International Group (NYSE:AIG) last released its earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. Analysts predict that American International Group will post 4.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, June 13th. American International Group’s dividend payout ratio is currently 109.40%.
In other news, Director Therese M. Vaughan purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $51.71 per share, for a total transaction of $51,710.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $51,710. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of American International Group in the 4th quarter worth $354,739,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in American International Group by 49.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock worth $889,627,000 after purchasing an additional 7,516,503 shares in the last quarter. Macquarie Group Ltd. grew its stake in American International Group by 24.8% in the fourth quarter. Macquarie Group Ltd. now owns 16,690,982 shares of the insurance provider’s stock worth $657,792,000 after purchasing an additional 3,312,810 shares in the last quarter. Boston Partners grew its stake in American International Group by 20.7% in the first quarter. Boston Partners now owns 17,946,719 shares of the insurance provider’s stock worth $772,786,000 after purchasing an additional 3,079,624 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in American International Group by 39.7% in the first quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock worth $445,729,000 after purchasing an additional 2,943,241 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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