Citigroup Raises American International Group (NYSE:AIG) Price Target to $87.00

American International Group (NYSE:AIG) had its price objective increased by Citigroup from $79.00 to $87.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

A number of other research firms also recently weighed in on AIG. BMO Capital Markets cut their price target on shares of American International Group from $83.00 to $81.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Evercore ISI raised their target price on shares of American International Group from $74.00 to $80.00 and gave the company an in-line rating in a research note on Thursday, April 11th. Morgan Stanley raised their target price on shares of American International Group from $72.00 to $79.00 and gave the company an equal weight rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of 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. Finally, HSBC began coverage on shares of American International Group in a research note on Thursday, December 28th. They issued a buy rating and a $86.00 target price on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American International Group has an average rating of Moderate Buy and an average price target of $79.06.

American International Group Stock Performance

Shares of AIG opened at $72.99 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $49.70 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.05 and a beta of 1.03. American International Group has a 1 year low of $48.95 and a 1 year high of $78.95. The company’s 50 day simple moving average is $74.10 and its 200 day simple moving average is $68.33.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. American International Group’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. On average, sell-side analysts predict that American International Group will post 7.05 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio is currently 28.86%.

Insiders Place Their Bets

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other American International Group news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Trading of American International Group

Several hedge funds have recently bought and sold shares of the company. Verum Partners LLC bought a new stake in American International Group in the 1st quarter valued at about $227,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in American International Group by 2.3% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 594,793 shares of the insurance provider’s stock valued at $46,495,000 after purchasing an additional 13,554 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in American International Group by 13.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 627,917 shares of the insurance provider’s stock valued at $49,084,000 after purchasing an additional 72,487 shares during the last quarter. Koss Olinger Consulting LLC bought a new stake in American International Group in the 1st quarter valued at about $8,831,000. Finally, Optas LLC bought a new stake in American International Group in the 1st quarter valued at about $230,000. 90.60% of the stock is currently owned by institutional investors.

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.