American International Group (NYSE:AIG) Upgraded by Royal Bank Of Canada to Hold Rating

Royal Bank Of Canada upgraded shares of American International Group (NYSE:AIG) to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other analysts have also recently weighed in on AIG. Barclays lifted their price target on American International Group from $93.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Evercore ISI boosted their target price on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Piper Sandler lowered their price target on shares of American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, October 2nd. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Finally, HSBC decreased their target price on shares of American International Group from $93.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

American International Group Trading Up 1.5%

Shares of American International Group stock opened at $76.13 on Monday. The stock has a market cap of $41.08 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.77 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group has a 12-month low of $69.24 and a 12-month high of $88.07. The business’s 50 day moving average is $78.47 and its 200-day moving average is $80.68.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the previous year, the business earned $1.23 earnings per share. Equities research analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s dividend payout ratio is presently 32.73%.

Institutional Trading of American International Group

Several institutional investors have recently modified their holdings of the business. Vise Technologies Inc. acquired a new position in shares of American International Group in the 2nd quarter worth $858,000. Jupiter Asset Management Ltd. purchased a new stake in American International Group during the second quarter valued at about $6,127,000. Patton Fund Management Inc. acquired a new position in shares of American International Group in the second quarter worth about $232,000. AIA Group Ltd increased its position in shares of American International Group by 169.6% in the first quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider’s stock worth $901,000 after acquiring an additional 6,523 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in shares of American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider’s stock worth $10,009,000 after acquiring an additional 5,899 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

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.