Citigroup began coverage on shares of American International Group (NYSE:AIG) in a report issued on Tuesday morning, 24/7 WallStreet reports. The firm issued a neutral rating and a $55.00 price objective on the insurance provider’s stock.
Several other brokerages also recently commented on AIG. ValuEngine downgraded American International Group from a sell rating to a strong sell rating in a research note on Tuesday, December 3rd. Wells Fargo & Co reaffirmed a buy rating on shares of American International Group in a research report on Monday, December 9th. Evercore ISI assumed coverage on American International Group in a research report on Thursday, October 17th. They set an in-line rating and a $54.00 price target for the company. Finally, Barclays increased their price target on American International Group from $65.00 to $67.00 and gave the company an overweight rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $58.45.
Shares of American International Group stock opened at $51.67 on Tuesday. The company has a market cap of $46.02 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. American International Group has a 52 week low of $40.00 and a 52 week high of $58.66. The business has a 50 day moving average price of $51.63 and a 200-day moving average price of $53.90. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, November 1st. The insurance provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.43). The company had revenue of $11.99 billion during the quarter, compared to analysts’ expectations of $12.03 billion. American International Group had a return on equity of 4.17% and a net margin of 3.56%. During the same period last year, the company earned ($0.34) earnings per share. As a group, research analysts anticipate that American International Group will post 4.6 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Stockholders of record on Thursday, December 12th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Wednesday, December 11th. American International Group’s payout ratio is currently 109.40%.
Several institutional investors have recently bought and sold shares of AIG. Private Advisor Group LLC boosted its holdings in shares of American International Group by 9.7% in the second quarter. Private Advisor Group LLC now owns 13,978 shares of the insurance provider’s stock worth $745,000 after acquiring an additional 1,240 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of American International Group by 3.0% in the second quarter. Nomura Holdings Inc. now owns 11,548 shares of the insurance provider’s stock worth $618,000 after acquiring an additional 332 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of American International Group by 60.5% in the second quarter. Cubist Systematic Strategies LLC now owns 20,692 shares of the insurance provider’s stock worth $1,102,000 after acquiring an additional 7,800 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of American International Group in the second quarter worth $46,000. Finally, Bank of Hawaii boosted its holdings in shares of American International Group by 43.8% in the second quarter. Bank of Hawaii now owns 11,816 shares of the insurance provider’s stock worth $630,000 after acquiring an additional 3,599 shares during the period. 91.09% of the stock is owned by hedge funds and other institutional investors.
About American International Group
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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