Bank of America Boosts American International Group (NYSE:AIG) Price Target to $84.00

American International Group (NYSE:AIGFree Report) had its price target hoisted by Bank of America from $82.00 to $84.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other analysts also recently issued reports about the stock. HSBC downgraded shares of American International Group from a buy rating to a hold rating and set a $86.00 price target for the company. in a research note on Wednesday, May 15th. BMO Capital Markets boosted their price target on shares of American International Group from $88.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, May 13th. Piper Sandler boosted their price target on shares of American International Group from $87.00 to $89.00 and gave the stock an overweight rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American International Group from $73.00 to $80.00 and gave the company a neutral rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, American International Group presently has an average rating of Hold and an average price target of $81.50.

Check Out Our Latest Research Report on AIG

American International Group Stock Performance

NYSE AIG opened at $74.08 on Tuesday. American International Group has a 52-week low of $54.84 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $49.16 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.90 and a beta of 1.08. The company has a fifty day moving average of $76.77 and a 200-day moving average of $72.53.

American International Group (NYSE:AIGGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period in the previous year, the firm posted $1.63 EPS. As a group, equities research analysts predict that American International Group will post 7.09 EPS for the current fiscal year.

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

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s payout ratio is currently 23.88%.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American International Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valued Wealth Advisors LLC grew its holdings in American International Group by 303.3% in the first 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. Rise Advisors LLC bought a new position in shares of American International Group in the first quarter worth approximately $29,000. CENTRAL TRUST Co lifted its stake in shares of American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after buying an additional 250 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of American International Group in the third quarter worth approximately $32,000. Finally, Neo Ivy Capital Management bought a new position in shares of American International Group in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for American International Group (NYSE:AIG)

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.