Brokerages Set American International Group, Inc. (NYSE:AIG) Price Target at $84.80

American International Group, Inc. (NYSE:AIG) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $84.80.

A number of brokerages have issued reports on AIG. Jefferies Financial Group increased their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America increased their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group increased their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company.

American International Group Trading Down 0.3 %

Shares of AIG stock opened at $76.88 on Friday. American International Group has a 52-week low of $64.81 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $47.96 billion, a PE ratio of -22.68, a PEG ratio of 7.65 and a beta of 1.05. The stock has a fifty day simple moving average of $75.82 and a two-hundred day simple moving average of $75.51.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the business posted $1.61 EPS. On average, analysts predict that American International Group will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Trading of American International Group

Institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management increased its position in shares of American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after acquiring an additional 10,581 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new position in shares of American International Group during the third quarter worth approximately $494,000. Finally, Ceeto Capital Group LLC purchased a new position in shares of American International Group during the first quarter worth approximately $625,000. Institutional investors own 90.60% of the company’s stock.

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.